Leading trading technology provider, FlexTrade has announced its motive to expand its working with Goldman Sachs. FlexTrade has been providing the investment bank with the execution management system – FlexTRADER – for some time.
As per the latest arrangement, FlexTrade will be working with the investment banking giant to strengthen its indication of interest (IOI) liquidity offering.
Danny Mallinson, Head of EMEA Equity Execution Services at Goldman Sachs said:
“As our franchise growth affords us the opportunity to send increasing amounts of targeted, actionable natural liquidity to clients, and solving for the best workflow solutions is a natural next step.”
Goldman Sachs will now have IOI profiling and analysis capabilities added to its existing system and the customers will able to action IOI liquidity directly from the trading blotter. The blotter allows traders to see how much of an order can be completed using the bank’s actionable liquidity.
Andy Mahoney, Head of Sales at FlexTrade UK said:
“Taking multiple factors into account, including AFME classification, traders can now easily differentiate between risk and principal, and systematically highlight the IOIs that are most relevant at the point of execution.”
BinckBank Reports Q1, 2019 Financial Results, Posts Sharp Drop in Revenue and Profits
BinckBank, the company which is set to be acquired by Saxo Bank in a $477 million deal has released its first quarter financial results for the year.
The company has posted a sharp decline in revenue during the period, with total operating revenue coming in at 32.8 million euros ($36.89 million), a 17 per cent decline from the first quarter of 2018 which had revenues in tune to $44.5 million.
Although there is no difference in the operational expenditure during the quarter compared to the same period last year, the operational expenditure figures stood at $31.6 million.
The company reported net earnings of 3.5 million euros ($3.9 million) for this year’s first quarter, which is 55 per cent drop on last year when the firm posted a net profit of $9.6 million. The company has blamed the extreme volatility in the market for such huge variations in profits.
Speaking in the deal front by Saxo Bank, the company said that the process of acquiring regulatory permissions has started and is expected to be completed towards the start of the third quarter of this year.
