CMC Markets

CMC Markets Institutional Integrates OMS to Prime Derivatives Platform

IRESSCMC Markets Institutional, a provider of liquidity services across multiple assets, including Prime Derivatives, Prime FX, API Direct, and white label offerings, has adopted the order management system developed by Australian software company IRESS to form a key component of CMC’s new Prime Derivatives trading platform.

The integration of IRESS’s order management system in CMC’s Prime Derivatives platform will help better manage client pre-trade risk, positions, portfolios, margin, order routing, and workflow.

This complements CMC’s existing Prime FX platform and allows it to offer advanced trading capability to its institutional and professional clients, including a number of banks, brokerages, funds and dealing desks across the globe.

Glenn Wilson, Head of Wealth & Trading at IRESS
Glenn Wilson, Head of Wealth & Trading at IRESS

Glenn Wilson, Head of Wealth & Trading at IRESS, commented:

“We’re pleased to be working with CMC Markets to further enhance its proposition. By adopting our market leading trading solution, CMC Markets will be able to target institutional and professional clients with a highly capable trading offering suited to their needs. What this gives over and above the distributed trading platforms is that IRESS technology provides an open access model. This means CMC can now offer these clients FIX and API trading capability integrated directly to IRESS’ order management system.”

Richard Elston, Head of Institutional at CMC Markets, added:

“When it came to adding a Prime Derivatives capability to our proposition IRESS was a clear choice and an excellent fit for us. Accessing Prime Brokerage services across all asset classes has become harder in recent years as changes to regulation and approaches to risk management have evolved. Using IRESS’ technology allows CMC Markets to service this market giving clients greater access to trading venues either direct or via algorithmic execution services, all managed by the IRESS order management system and its extensive pre-trade risk controls. We’re excited to be able to offer this new Prime Derivatives capability – it complements the existing Prime FX product suite, delivering a comprehensive, multi-asset solution from a single counterparty to a wider range of participants.”

Richard Elston, Group Head of Institutional at CMC Markets
Richard Elston, Group Head of Institutional at CMC Markets

Viewpoint, IRESS’ flagship online trading browser-based front-end, is also part on the package and it will allow CMC’s clients to trade over 9,000 single stock CFDs across 20 countries, with trades smart-order-routed directly to a wide range of liquidity venues.

CMC Markets’ Prime FX offering was added to its Institutional Suite in order to ensure the dissemination of tier one liquidity first and provide access at scale on an ever-widening range of currency pairs and bullion types. Proprietary CFD liquidity is delivered through a partnership with FlexTrade.