BOSTON--Sept. 29, 2005--Macgregor(R), a leading provider of execution process technology for the global financial community, today announced that Freeman Associates Investment Management LLC (Freeman Associates) has adopted the Macgregor XIP Order Management Network(TM)(OMN(TM)), to optimize their equity trade execution process.
Headquartered in Rancho Santa Fe, California, Freeman Associates will use the trading and compliance components of XIP to manage over US $3 billion in assets. The firm went live in six weeks with these components plus numerous FIX broker connections, algorithmic trading tools and integration to their Advent AXYS accounting system.
Alex Green, Head of Trading at Freeman Associates commented, "We were very pleased with Macgregor's ability to integrate XIP with our proprietary trade optimizer and Advent's AXYS accounting system. XIP allows us to operate a state-of-the-art electronic trading desk with FIX connectivity to all of our traditional brokers as well as various alternative trading systems and algorithmic tools. Along with seamless FIX connectivity the system allows Freeman Associates to trade more than one thousand orders a day with no operational risk."
Richard Cunningham, Senior Vice President of Sales for Macgregor stated, "For firms like Freeman Associates who are looking for an efficient way to connect to their brokers and take advantage of the new algorithmic trading tools that are available, our OMN is a great solution because these services are all available in a plug-and-play fashion. We are excited to have Freeman Associates on board and are looking forward to helping them achieve greater levels of efficiency and investment performance."