Once a trade is executed, the necessary security data will be sent to establish the security on InnoTrust. Trade details will also be transmitted to InnoTrust to establish a trade record for subsequent matching with depository confirm records.
William Thomas, Innovest Systemsâ chief executive officer, said, âWe are pleased to form an alliance with ITS. This partnership allows Innovest to offer one-stop shopping for fixed income trading execution. Offerings can be searched and sorted by multiple criteria, including maturity, ratings, quantity, coupon, yield and price. This brings the market right to our clientsâ desktops in real time.â
Charles Friday, President of Institutional Trading Services, said, âWe are delighted to team up with Innovest Systems. As one of the premier electronic fixed income platform providers in the trust and wealth management industry, we offer anonymous access to an electronic marketplace with thousands of pieces of inventory from many different dealers. Innovestâs clients will benefit from a live, executable fixed income trading environment that provides dynamically updated bids and offers. Additionally, upon execution of the trade, clients will immediately receive a confirmation email with extensive trade ticket details.â