Bear Stearns has gone live with a new Web-based single order entry application from Random Walk across its portfolio trading desk.
The new application, built on Random Walk's real-time Wolf platform, allows straight-through processing of trades that might otherwise require manual entry and paper tickets.
Bear Stearns says it required a solution to replace its single order entry application with a fully featured, Web-deployable offering that could also be used by its sales traders. Unlike an off-the-shelf order management system (OMS), Wolf integrates with an existing OMS to extend it over the Web.
Nancy Turbé, managing director of global portfolio trading technology, notes: "Infrastructure costs are also much lower for the Web than for private networks."