Object Trading, a versatile exchange systems facilitator, has tabbed MarketPrizm to manage its FrontRunner Direct Market Access (DMA) module, providing solutions for multiple FX and other asset classes, according to an Object Trading company statement.
Joint Solutions Initiative Catering to Multiple-Asset Classes and Exchanges
Object Trading is known for its DMA platform and has already fostered several partnerships this year for its comprehensive trading systems. Conversely, MarketPrizm will enable users’ access to a robust buy and sell-side platform, along with a host of solutions for trading of multiple-assets, including FX, derivatives and equities – the joint effort will also yield a single gateway for order execution capabilities, a hallmark of Object Trading’s FrontRunner product suite.
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“We have seen sharply increased demand for managing the critical functions that firms had typically controlled in-house to maintain competitive advantage. Today more than half of the top-tier banks globally use FrontRunner, which supports more than USD$100 billion in notional value traded on a daily basis. Together with infrastructure partners like MarketPrizm, we provide a fully managed platform that allows firms to maintain control while gaining competitive advantage, improving profitability and enhancing client experience, and with minimal investment in market data and trading infrastructure integration and management,” added Gerry Turner, Executive Director at Object Trading.
Streamlined DMA Across Europe and Asia
Indeed, the joint solutions initiative will cater to users across Europe and Asia-Pacific, while simultaneously providing DMA for all manners of trading desks and systems, thus enabling firms to execute trading operations in a streamlined manner. Furthermore, the consolidation of a single infrastructure removes any scaling issues of complexity, ensuring users will not face any burdens in their utilization of the product offering.
According to Jay Hibbin, Commercial Director at MarketPrizm, in a recent statement on the partnership, “A data enabled, managed solution will provide a considerable advantage to financial services firms by helping them avoid significant, up-front investments. By combining MarketPrizm’s market data and managed infrastructure across Europe and Asia with Object Trading’s market access technology and expertise, we make it easier and faster for firms to trade in the markets. This step is in-line with our strategic plan to provide end users with a capability rich ecosystem. We do that by teaming up with parties like Object Trading, who provide clients with fully serviced, on-demand access to markets.”