FlexTrade Systems, Inc., a global leader in broker-neutral, multi-asset algorithmic trading systems, today announced that Weeden & Co. LP has replaced its OMS platform with FlexOMS, FlexTradeâs new sell-side order management system.
By implementing FlexOMS, Weeden is deploying a cutting edge, end-to-end order management solution that combines and streamlines the trading process between buy-side clients and execution venues, thus allowing them to manage firm-wide risk and optimize their trading workflow with significant performance and cost improvement.
âAs Weedenâs business model evolves from traditional high touch to a combination of high touch and no touch algorithmic trading, such as our industry leading ONEPIPE product, we needed to partner with an industry leader in the high volume, high throughput, and low latency OMS space. By integrating our proprietary front end trading technology with FlexTradeâs back office OMS technology, we now have a state-of-the-art front to back solution to help service our clients,â said Amit Chatterjee, Managing Director and CIO of Weeden & Co.
âWe are very excited about this rollout,â said Vijay Kedia, president and CEO of FlexTrade. âItâs no secret that the market for trading technology is rapidly changing. As the sell-side transaction processing needs have grown exponentially with algorithmic trading and DMA, FlexTradeâs proven expertise in low latency, high volume trading on the execution side enabled us to build a homegrown OMS that can stand alone or be configured to run as a fully integrated front to back solution with FlexTRADER or other in-house EMS platforms.â