Asset Manager Coronation Taps FlexNOW for Equity and Derivatives Trading

FlexTrade Systems, a specialist in multi-asset execution and order management systems, has made its EMS product, ‎known as FlexNOW, available to Cape Town-based investment firm Coronation.

Founded in South Africa in 1993, Coronation is an owner-managed business, which engages in the provision of traditional fund management and multi-manager investment products.

The adoption of FlexTrade’s flagship product enables Coronation’s asset managers to trade thousands 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.

Philip van der Merwe, Head of Trading at Coronation Fund Managers stated: ’Over the last couple of years, our trading execution needs have changed. We were looking for a partner that was able to increase our workflow efficiency and reduce our costs. FlexNOW has managed to impress us with both. Their desktop features have proven to be solid solutions, and our team is seeing new updates every week. We managed to invest in a product that delivers a powerful user experience while ensuring simplicity and ease of use.’’

Adi Prnjavorac, General Manager, FlexNOW at FlexTrade Systems noted: “We are delighted to add another prestigious client such as Coronation to our rapidly growing FlexNOW community. Since the pandemic, we have seen significant demand for our FlexNOW cloud EMS to meet firms’ challenges in this new, changing environment. Further, our institutional client base has also grown by 100% over the past year, validating our offering and demonstrating that organizations recognize the tangible value we can deliver in challenging times.

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). ‎