FlexTrade a provider of multi-asset execution and order management solutions has extended its foothold in South Asia. The firm has reported that its Singapore division has signed up ICICI Securities for its execution management system.
ICICI Securities, one of India’s largest equity brokerage firms, will deploy FlexTRADER EMS for cross asset trading. The system offers a range of benefits for the brokerage division of ICICI Bank (ICICI) including; a fully customizable flagship EMS with pre-defined trading strategies and tactics for both portfolio and single stock trading. In addition, the platform provides organically developed real-time and post-trade analytics as well as risk and cost-optimized portfolio trade scheduling (FlexPTS); integrated real-time allocations and cash management; smart order routing; a fully integrated high performance Complex Event Processing (CEP) engine; commission management; complete transaction and IOI quality management (FlexTQM); and a dynamic strategy matrix.
Speaking about the selection of FlexTRADER EMS, Managing Director and CEO of ICICI Securities Ltd, Anup Bagchi commented in the official press briefing, he said: “Algorithmic solutions constitute of some of the key services that our domestic and Foreign Institutional Clients demand. By on-boarding FlexTrade, we in ICICI Securities will continue to make investments in this space, and strengthen our ability to deliver best execution capabilities.”
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FlexTrade first entered India through a collaboration with the National Stock Exchange (NSE) in 2011, under the agreement FlexTrade was registered as a Foreign Independent Software Vendor (FISV) in the Capital Markets segment and Futures and Options.
“Whether its equities, options, futures, FX, or any combination thereof, it has always been our mission to provide clients with the latest and very best in cutting-edge trading technology,” said Manish Kedia, Managing Director of FlexTrade Systems Pte. Ltd. in Singapore in a statement. “As such, we take great pride in ICICI’s decision to renew its commitment to use the FlexTRADER EMS.”
India, a nation of over 1 billion people has a proliferation of equities and derivatives exchanges. On the retail front there are over 20 million registered individual investors with equity portfolios. ICICI Direct, the investment and brokerage unit of the bank has over 2.2. million customers.
ICICI, a listed entity was trading 2% in the positive at INR1087.25.