Thomson Financial has launched Oneva Trade FI, a fixed income trade order management system targeted to buy-side traders and portfolio managers.
"Attempts to automate bond trading in the past often resulted in re-configured equity order management systems," says Christen Bremner, Thomson Financial's portfolio solutions group director, product management. "Fixed income participants must have a system that recognises and supports pre-to post-trade workflow and messaging for a multitude of fixed income instrument types; Oneva Trade FI delivers on this reality," she says.
Oneva Trade FI is based on Raptr, an existing order management system for fixed income from Kestrel Technologies. The two companies have entered a partnership under which Thomson will develop sales leads among buy-side firms, while Kestrel continues to service the sell-side. Thomson says it will work to improve Raptr's functionality, and implement a complementary, fully integrated decision support and modeling system to satisfy buy-side users.
Jody Morse, Thomson Financial's portfolio solutions group senior vice president of global product strategy and operations, says: "Oneva Trade FI and Thomson OpenTrader reduce risk by enabling traders to move quickly with the markets, and allowing their buy-side firms to achieve true straight-through processing."