Consort Order Management & Routing Product passes first live trade through the London Stock Exchange RSP Gateway

Consort Securities Systems Limited ("Consort"), the specialist stockbroking and investment management software house, was first past the post in processing live retail broking orders through the London Stock Exchange’s Retail Service Provider (RSP) Gateway service.

July 22nd was the go-live date for the first RSP on the Gateway service – Investec Securities - and the first order flowed seamlessly from Carr Sheppards Crosthwaite through Consort’s 4i-OMR system into the RSP Gateway and onto Investec’s dealing system provided by royalblue.

"We have been working closely with the Exchange and royalblue since the inception of the Gateway service" commented Consort’s MD, Eric Werner. "It is always satisfying to see collaborative projects go well, particularly when they represent a significant milestone in the Exchange’s service provision to the retail stockbroking sector. As a major supplier in this arena we view it as essential to maintain currency with industry initiatives and have already started the process of linking new subscribers to the RSP Gateway using 4i-OMR in both fully integrated and stand-alone modes of operation".

"We installed our stand-alone version of 4i-OMR into Carr Sheppards Crosthwaite for this exercise which gives their dealers access to RSPs through the Exchange’s Gateway as they come on stream. The fully integrated version
allows Straight Through Processing (STP) capability from the point of order at a Client Executive’s desk and this version of the Gateway software will be going live with two more clients within the next few weeks ".

The Exchange’s Chris Broad said "The Gateway service will cap, and ultimately bring down, the industry cost of creating and maintaining multiple electronic connections between brokers and RSPs. The availability of software applications - of which Consort are one of the providers - will be an important element in enabling private client brokers access to a wider range of RSPs and in so doing will play its part in stimulating more choice in quotation and execution services."

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