Itiviti Onboards Bloomberg's Sell-Side Execution and OMS Customers

Ricardo Esteves

Ricardo Esteves has seen business and economics through many lenses. He joined the Financial Services Industry in 2009, and has been a financial journalist since 2011. He holds a degree in Business Administration and has experience producing real-time news, from both buy-side and sell-side, as well as for retail traders, brokers and service providers. Esteves' work has appeared in a variety of online publications including FX Street and FinanceFeeds.

Tony Falck

Itiviti Onboards Bloomberg’s Sell-Side Execution and OMS Customers

May 9, 2019

To expedite onboarding and ensure consistent service delivery, the company has added former Bloomberg employees.

Following Bloomberg’s recent announcement that the firm will discontinue its SSEOMS product, several customers who were currently using Sell-Side Execution and Order Management Solutions (SSEOMS) from Bloomberg L.P. have moved to Itiviti’s multi-asset Order Management System (OMS), according to the company.

The fintech provider has successfully migrated a number of Bloomberg SSEOMS clients to its sell-side trading platform in recent years. The platform includes the OMS for low-touch, high-touch, and middle office workflows. Bloomberg’s termination of support for SSEOMS has led Itiviti to onboard even more clients.

Rob Mackay, CEO of Itiviti (1)
Rob Mackay

Rob Mackay, Chief Executive Officer at Itiviti, said: “Itiviti has reassuring news to Bloomberg SSEOMS clients, namely that our best-in-class OMS offers more than a replacement for their present setup. They also get a clear upgrade path from a forward-looking supplier providing OMS for low-touch, high-touch and middle office workflows in the sell-side industry. Together with the significant additions we are making to the product and support teams, our OMS platform offers firms a powerful yet cost-effective solution, backed by a partner who is committed to investing in their business-critical tools.”

Itiviti’s sell-side trading solution platform is highly customizable for accommodating customer-specific messaging, order flows and user preferences as it provides access to cross-asset orders from a global network of clients, a feature-rich OMS, and advanced tools for fast and reliable execution and middle office workflows. The OMS is used by more than 10,000 sales-traders worldwide to onboard clients, manage orders in real-time, route execution to any venue, customize commission schemes and automate post-trade tasks to secure bookings and regulatory compliance.

Itiviti has recently merged with Ullink, forming a global capital markets technology powerhouse, representing $200 million in revenues and employing 1,000 employees. A WSJ report found that Nordic Capital, parent company of Itiviti, agreed to acquire Ullink from Hg Capital, for $650 million.
Rob Mackay was recently named Chief Executive Officer. The former FIS Chief Operating Officer started on April 1.
In Q4 2018, Itiviti launched a comprehensive foreign exchange trading solution designed for compliance with the latest regulatory requirements including MiFID II. The solution comes with a broad range of connectivity options to FX liquidity providers and platforms, including FIX, ITCH, OUCH, and other binary feeds. In addition, it features algorithmic trading, distribution service, order and pre-trade risk, and a liquidity aggregation service which allows for mixing, of different types of liquidity from multiple sources.

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