The US State of Michigan has selected the Macgregor Financial Trading Platform (MFTP) to automate its equity and fixed income trading.
The State of Michigan will use the platform's portfolio manager workstation and advanced fixed income components and the Macgregor FIX network (MFN). The system will be rolled out to 20 users.
Tom Smith, head trader with the State of Michigan bureau of investments, says: “System selection was critical for us because we did not want to go through the labour-intensive process of building an in-house OMS. We chose Macgregor because it is best suited to move us from paper to electronic trading and help us to better analyse our equity trading strategies."