“Firstly, our aggressive timelines meant that we needed to work with a partner who understood our business and offered flexible yet powerful technology solutions to meet our requirements. That was essentially the baseline.”
JonesTrading has partnered with FlexTrade Systems to deploy the sell-side trading platform, FlexOMS, for its Equities, Electronic Trading, and Outsourced Trading business units.
By enhancing its service offerings across multiple trading desks with FlexOMS, the equity brokerage and capital markets firm will be able to better retain its current customers and further expand across the globe as the system offers comprehensive support for reporting, accounting, best execution, and finance operations.
JonesTrading decided to replace legacy OMS in Q3 2023
FlexOMS was chosen after a meticulous evaluation process in the third quarter of 2023 to replace its previous order management system. The integration into JonesTrading’s operations was swift largely due to the system’s open architecture and robust API capabilities.
FlexTrade Systems, with a dedicated team of over 500 professionals and a presence in 45 countries, offers multi-asset execution and order management systems across a wide range of financial instruments.
JonesTrading has been a significant player in the institutional trading broker-dealer space since 1975, focusing on creating liquidity for institutional and corporate clients.
“Reliable partner that could meet our business needs”
Jack Garceau, Chief Technology Officer at JonesTrading, said: “Firstly, our aggressive timelines meant that we needed to work with a partner who understood our business and offered flexible yet powerful technology solutions to meet our requirements. That was essentially the baseline. Equally crucial in our decision was selecting a partner that could value-add in addition to the technology by offering the services and long-term relationships that we need to continue to build out our service offerings. To continue growing, FlexTrade was that reliable partner that could meet our business needs from a technology perspective and deliver in the contracted time frame that the project demanded.”
Rajiv Kedia, Principal & Associate Founder at FlexTrade Systems, commented: “We are delighted to welcome JonesTrading to the FlexOMS global client community and appreciate the confidence they placed in FlexTrade. It has been a pleasure working with the highly knowledgeable team at JonesTrading and we are happy to see this solution in place. It demonstrates clearly what can be achieved with a tight, synchronized approach between client and technology partner when implementing flexible, open OMS solutions. Our open-architecture, client-first approach has delivered cutting-edge trading technology and seamless straight-through processing to JonesTrading’s multiple business lines. We look forward to partnering further with JonesTrading to optimize and expand their use of FlexOMS to other business areas.”
