Source: Advanced Financial Applications
Advanced Financial Applications (AFA), a leading provider of trading technologies to buy and sell side financial organizations, today announced that it has integrated the IMPACT Pro OMS platform with Goldman Sachs' electronic trading platform, REDIPlus.
Under the terms of the agreement, AFA will provide multi-prime broker order management services to clients who trade using the REDIPlus execution management system (EMS). AFA's IMPACT Pro facilitates the allocation of trades to multiple prime brokers, manages intra-day profit and loss, and aggregates positions with various prime brokers in a neutral configuration.
Unlike heavy legacy systems, AFA's neutral OMS allows users to better manage their trade workflow by working with their execution management system in a cost-effective, easily deployable, web-based manner, unlocking cost and labor constraints.
Said Pat Lynch, AFA's CEO: "We recognize that today's institutions demand flexible EMS and OMS capability. An integrated offering of REDIPlus and IMPACT Pro's order management solution will bring together robust trade execution capabilities with neutral order management functionality - which is increasingly required by clients. This also validates what we at AFA believe to be an increasing need in the marketplace for a hosted neutral order management application that can easily integrate with clients' execution management systems, and in the process reduce the cost of ownership for both prime brokers and their clients."
Adam Mazur, Head of Global Connectivity at Goldman Sachs, echoed Lynch's comments, stating "The integration reinforces Goldman Sachs' commitment to an open, multi-broker electronic offering, and is an example of the partnerships available through the recently launched Signature Program." The Goldman Sachs Signature Program allows clients to optimize electronic trading through a consolidated network of service providers; AFA is a Signature Provider in this program.