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Aperio Chooses Linedata OMS

Investment management firm Aperio Group expects to implement Linedata’s Longview order management system (OMS) by the end of the first quarter of 2017, says Lisa Clossey, a project manager and business analyst at Aperio who worked on the firm’s choice of Linedata as an OMS provider.

Aperio plans to replace internal systems and use Linedata Longview to manage client trade flow across separately managed accounts, covering pre-trade compliance, trading, post-trade processes and reporting functions.

The firm has $15.62 billion billion in assets under management (as of the third quarter of 2016) and specializes in tax management, factor tilts and socially responsive strategies for high-net-worth investors. Aperio has over 3,000 separately managed accounts, according to Clossey.

“We have a lot of data and Linedata was able to handle that,” she says. “Everyone we talked to was complementary about Linedata’s support and had been with them a long time.

“We have our own proprietary optimization system,” Clossey adds. “We just wanted to feed in trades rather than needing a re-balancer.”

Aperio sought a new OMS to centralize its order processes, and also found a benefit in Longview’s flexibility in working with multiple execution management systems (EMSs).

“We will use Longview as our trading hub,” says Clossey. “It will handle the orders and allocations. It is important to us that our volume of data works at the tax lot [opening transaction record] level.”

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