Liquid Holdings is now offering its hedge fund clients a broker-neutral single order and execution management system to help them streamline their business work flow.
The independent firm has also added sub-millisecond real-time pre-trade compliance controls, portfolio management and managed services, such as broker reconciliation, enhancing its existing OEMS system.
The OEMS was originally built by prop trading firm ECHOTrade in 2006. ECHOTrade founder Brian Ferdinand is also the founder of Liquid. After an IPO in July, Liquid was able to go back into the system and upgrade it.
The firm is now marketing this re-engineered trading platform as a broker-neutral solution. Under Echo Trade, the OEMS was used only by firms that did business with Echo.
The system is also now available through the cloud. Liquids cloud delivery and bundled managed services eliminate the need for IT and operations staff to manually reconcile trades each morning, a common inefficiency associated with managing a multi-vendor infrastructure, said Branden Jones, global head of marketing at Liquid.
The OEMS was built originally for one client-now its for the masses, Jones said. New features such as the real-time risk reporting can help stop a trade before it goes out for execution.
The firm said that hedge funds are plagued by an intense regulatory environment, investor demands for transparency and fee compression, and are frustrated by the multiple platforms and systems they have to manage along with the costs and maintenance associated with them. Liquid Holdings, Jones said, now offers these clients a cloud-based, agency-only system to meet all their trading needs.
Liquid has 48 clients.
