SimCorp, leading supplier of highly specialised software for the investment industry, and ITG Net®, premier network for global, broker-neutral, platform-neutral trade routing and 'best execution' services, have entered into a global partnership agreement.
The agreement enables users of SimCorp Dimension, SimCorp's investment management solution, to improve trade outcomes by utilising ITG Net to route orders to broker dealers via a certified interface and to use ITG's suite of real-time transaction cost analysis tools, Trading Analytic Widgets™.
ITG Net connects the buy side over a fully managed, robust and secure FIX network to over 480 brokers in order to access their trading destinations, algorithmic tools and DMA solutions. In addition to extensive connectivity, ITG Net helps dealers achieve best execution by providing value-added services across the trade life cycle. These services include ITG's Trading Analytic Widgets, which monitors trade performance in real time and evaluates execution quality and broker performance against selected benchmarks. With Trading Analytic Widgets, SimCorp Dimension clients will be able to visualise order progress, graphically analyse execution patterns and generate reports for printing or mailing.
"The dealing desk is facing challenging markets characterised by low volume and volatility, closer scrutiny from clients and regulators and a myriad of venues. However, preserving the intent of the order, trading without foot print or impact and contributing to the overall performance result, remain key objectives," said Matthew Reid, who is responsible for the strategic direction of order management in SimCorp Dimension. "We introduced ITG's Trading Analytic Widgets to our user group and they immediately recognised the value of real-time analytics and how they will help them to manage open orders and achieve better trading results. ITG Net's FIX network is now fully certified with SimCorp Dimension and ITG's Trading Analytic Widgets co-resides with the system's order management core functionality, providing a seamless, managed deployment. We expect significant adoption as our clients continue to increase their reliance on our platform."
"We are very excited about our partnersship with SimCorp," concludes Tony Booth, ITG Net international director. "We are working together to deliver our FIX network and continue developing ITG's Trading Analytic Widgets. This means that SimCorp Dimension clients will get the benefit of our expertise in our respective fields as we seek to add value to the dealing desk."