FlexTrade Systems, a specialist in multi-asset execution and order management systems, has made its EMS product, known as FlexNOW, available to Lyxor Asset Management.
Lyxor is Societe Generale’s asset management unit, which offers exchange-traded funds for retail investors with a collective $150 billion in assets under management. The French lender is putting Lyxor on sale though it ranks as Europe’s third-largest exchange-traded funds (ETF) provider. But, the business took a hit last year amid challenging market conditions and the fallout from the coronavirus crisis.
The adoption of FlexTrade’s flagship product enables Lyxor’s traders to trade thousand of stocks and futures across scores of brokers and algos. They also benefit from even lower latency and stronger data sovereignty, as well as improving the competitiveness of their execution and connectivity.
“Integrating a new EMS in our complex workflow is never easy, but with FlexNOW we have replaced our old solutions and greatly improved the efficiency and operational safety of our workflows, especially when working with larger baskets,” said Samy Debbah, Head of dealing desk at Lyxor.
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FlexNOW is a broker-neutral trading platform that provides a wide range of order characteristics through a data-driven interface to address the needs of hedge funds and mini-primes. Additionally, FlexNOW offers access to leading market data providers, which easily integrates with any order management system (OMS) via FIX and API.
Furthermore, FlexNOW encompasses its own built-in Transaction Cost Analysis (TCA) tool in a bid to optimize the ability to customize workspaces and order tickets. Furthermore, it enables transparency and consistency in the best execution process which has become a requirement under the Markets in Financial Instruments Directive II (MiFID II).
” Lyxor benefits from our strong support and quick response to new requests. Not only have we enjoyed adding new functionality to improve their efficiency, [but also] their expertise feeds back into the platform to the benefit of the whole FlexNOW community,” noted Adi Prnjavorac, Head of sales for FlexNOW at FlexTrade Systems.