Trading solutions provider LiquidityBook has released LBX Outsourced Trader, a portfolio, order and execution management system with integrated FIX connectivity that is designed specifically for outsourced trading desks.
LBX Outsourced Trader is a Software-as-a-Service (SaaS) solution providing global multi-asset trading capabilities including order and ticket staging, auto marking, position uploads and stock locate.
Orders can be entered via email, text or instant messaging and converted to FIX ready messages for execution on any venue or by any counterparty. The system also includes risk and reporting tools for regulatory compliance and managed FIX connectivity services that support all versions of FIX and access to counterparties in 80 markets worldwide.
Sean Sullivan, chief revenue officer at LiquidityBook, says: “More and more asset managers are leveraging outsourced trading desks to complement their trading function. As a result, outsourced trading firms have seen significant upticks in their businesses, but the technologies to support them have not kept pace. We can help meet their needs with LBX Outsourced Trader.”
The solution is already being used by a number of outsourced trading firms, including Jones Trading. Its head of outsourced trading, Jeff LeVeen, comments: “Our outsourced trading business is expanding rapidly, but finding a platform that can meet our current needs and scale with our growth has been a challenge. Our experience with the LiquidityBook platform has been positive.”