JonesTrading has deployed FlexTrade Systems’ FlexOMS as the new sell-side trading platform for its equities and electronic trading businesses.
The FlexOMS solution will also serve as the full-service technology platform for JonesTrading’s outsourced trading offering.
JonesTrading partners with more than 1,500 institutions and hedge funds and its offering includes a wide range of liquidity sources, electronic trading and execution management services worldwide.
In Q3 2023, JonesTrading stated that it identified the need to replace its incumbent sell-side OMS solution which led to the selection of FlexTrade’s multi-asset sell-side trading order management solution, FlexOMS, to expand its equities, outsourced and electronic trading desks both now and moving forward.
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“[…] 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,” said Jack Garceau, chief technology officer at JonesTrading.
“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.”
The project began last year with FlexOMS encompassing JonesTrading’s equities, electronic trading and outsourced trading desk.
Through the use of FlexOMS’s open architecture and API-technology, the solution also connected the entirety of JonesTrading’s vital downstream systems including reporting, accounting, best execution and finance systems, within the given deadline.
“Our open-architecture, client-first approach has delivered cutting-edge trading technology and seamless straight-through processing to JonesTrading’s multiple business lines,” said Rajiv Kedia, principal and associate founder at FlexTrade Systems.
“We look forward to partnering further with JonesTrading to optimise and expand their use of FlexOMS to other business areas.”