Firefly Capital upgrades Orion G execution management system

Source: Firefly Capital

Firefly Capital, Inc. known for venue aggregation, central clearing, and fast DMA stock trading, today announced the release of a new version of its ORION G series Execution Management System (EMS).

ORION G4 (Version 4.0) was specifically engineered to fulfill "Best Execution" requirements as specified in the Security and Exchange Commission's Regulation: National Market System (Reg NMS), which is due to take effect in July 2007.

"The Best Execution mandates of Reg NMS are coming fast. They're complex, and they are going to take some folks by surprise," said Richard Holway, Managing Director at Firefly. "Our goal is to make sure our clients are prepared well in advance of the new rules."

ORION G4 centralizes an institutional trader's view, access, administration, and control of execution options on one screen. The new version will support a number of innovations (to be announced) specifically designed to meet the Best Execution requirements that institutional investors will face when Reg NMS becomes effective.

ORION G4 builds on the strengths of the system currently being used by major investors: it has a consistent, intuitive user interface across diverse venues, with one screen incorporating smart order routing, Direct Market Access, and cross platform integration.
Firefly also provides single ticket clearing, 28(e) Soft $/CSA research payment services, and commission accounting as conveniences to clients.

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