The New Zealand Exchange (NZX) has integrated FlexTrade’s order management system, Flex OMS, as the operator welcomes the firm as an independent software vendor in the local market.
Benjamin Phillips, Executive Director, Markets Development & Clearing at NZX, commented:
“FlexTrade’s integration with NZX trading technology supports our strategy to increase access and reduce barriers to entry to the New Zealand market, as we work to encourage greater liquidity on our market.”
Dan Enstedt, Vice President at FlexTrade’s operations covering Australia and New Zealand, said:
“It’s an honour to become a certified ISV with NZX. We have worked hard to provide superior technology and customer service to clients. By certifying with the NZX, we can provide valuable services such as direct market access, customised workflows, bespoke algos and improved trade order entry to brokers and traders who wish to trade more efficiently on the exchange.”
FlexTrade is now available to local and global firms looking to access the New Zealand market. Its order management system, FlexOMS, will be added to the list of trading technology vendors available for the New Zealand market. The OMS streamlines the trading process from receipt of client orders to the post-trade analytics of execution, thus providing sell-side institutions with an end-to-end solution across multiple desks, trading styles and regions.
FlexTrade opened its Sydney-based office in 2016 in order to further expand its business in the APAC region, particularly in Australia and New Zealand, as the trading industry sees an increase in assets under management (AUM) being handled by money managers and superfunds in Australia.
With hedge funds, asset managers and others becoming increasingly active with their investments, market participants in the Australian market gradually look to trade internationally. This drives the need for a high performance execution management system (EMS) that enables traders to access liquidity both inside Australia and globally.
Most recently, the company announced it will be working with investment banking giant Goldman Sachs to strengthen its indication of interest (IOI) liquidity offering. The blotter allows traders to see how much of an order can be completed using the bank’s actionable liquidity.
Also in April 2019, FlexTrade partnered with OpenFin, the leading provider of HTML5 runtime technology for the financial industry, to provide interoperability meaning ability to use each other computer systems or software to exchange and make use of information.
Earlier this year, FlexTrade made its cloud-based execution management system, FlexNOW, available via Amazon Web Services (AWS).