OM to phase out Traid

OM to phase out Traid

Stockholm-based OM is to phase out its legacy market-making system Traid in order to concentrate on expanding its order management and routing software OneWorld ASP. The company inherited Traid from its 1999 acquisition of back office systems house Tcam.

OneWorld ASP enables broker/dealers to receive order flow from customers via FIX networks or the Internet and route that order flow to a broad array of execution points, including the NYSE, ECNs, regional exchanges, select market makers and other liquidity sources.

William Payne, president, securities systems, OM Technology says the scrapping of Traid will enable the company to focus its resources on OneWorld ASP, which has been steadily increasing market share due to its wider range of connectivity options and its ability to collect and distribute order flow.

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