London-based Beauchamp Financial technology has launched a new FIX-based order management system for integration with its FundManager portfolio accounting system.
OrderManager enables fund managers and traders to electronically manage the order process, from inception through execution and allocation, says Andy Archer, development director at BFT.
He says the new system has been well received by beta sites.
"The advantage that OrderManager gives our clients is the tight integration with FundManager," says Archer. "This provides STP without the need to reconcile between OrderManager (the OMS) and FundManager (the PMS). FundManager's P&L will now reflect execution details as they are received in real-time."
OrderManager makes use of FIX technology from APT to send and receive electronic messages to and from executing brokers, ECNs and other pools of liquidity.