LiquidityBook, a Software-as-a-Service (SaaS) based provider of buy-and sell-side trading solutions, has launched LBX Outsourced Trader, an advanced POEMS (portfolio, order and execution management system) with fully integrated FIX connectivity. The system has been developed specifically with the unique needs of an outsourced trading firm, who share elements of both a buy- and sell-side trading desk, in mind.
“For a confluence of factors – increased technology and regulatory costs, fee pressures, a move to specialisation – more and more asset managers are leveraging outsourced trading desks to complement their trading function,” says Sean Sullivan (pictured), Chief Revenue Officer at LiquidityBook. “As a result, outsourced trading firms have seen significant upticks in their businesses, but the technologies to support them have not kept pace. We believe we can help meet their unique needs with our powerful yet cost-effective and easy-to-manage solution, and are excited to formally launch LBX Outsourced Trader.”
LBX Outsourced Trader is currently in full deployment with several industry-leading outsourced trading firms, including JonesTrading. LBX Outsourced Trader clients are collectively using it to receive flow from over 600 buy side accounts and execute with more than 200 broker dealer counterparties on their behalf.
“Our outsourced trading business is expanding rapidly, but finding a platform that can not only meet our current needs but scale with our growth has been a challenge,” says Jeff LeVeen, Head of Outsourced Trading at JonesTrading. “Our experience with the LiquidityBook platform – from onboarding to management to day-to-day usability – has been an extremely positive one, which has allowed us to focus our attention on providing our clients with the level of service they’ve come to expect from the JonesTrading companies over the last four decades.”
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