Trading
firm Virtu Financial (NASDAQ: VIRT) has teamed up with Swedish investment
management technology provider Limina to offer clients a combined platform that
handles everything from order management to post-trade settlement.
Virtu Financial Partners
with Limina to Streamline Trading Operations
The
partnership centers around Virtu’s TradeOPS platform, which automates the
back-office work that happens after trades are executed. Limina brings its
cloud -based order and portfolio management system to the table. Together,
they’re promising buy-side firms a smoother path from placing orders to
settling trades.
Swedish
fund manager Cliens has already signed on as the first client to use the
integrated service. The firm is now processing its trades through Virtu’s
system while managing orders through Limina’s platform.
“By
providing streamlined and effective solutions tailored to clients’ needs, we
can significantly reduce the operational burden and allow firms to refocus on
what truly matters: managing investments and driving performance,” said
Prem Balasubramanian, who heads Virtu’s TradeOPS platform.
The timing
isn’t coincidental. Recent changes in how trades settle have created new
problems for investment firms. The industry’s move to T+1 settlement , where
trades must be completed one business day after execution instead of two, has
compressed timelines. Meanwhile, the shift from older SWIFT messaging formats
to newer standards has added technical complexity.
Nordic Expansion
The
partnership appears designed to help Virtu expand its reach in Nordic markets,
where Limina has established relationships. Kristoffer Fürst, Limina’s CEO,
called the partnership “an obvious choice to further strengthen the
integration capabilities of Limina’s Order Management System, not only to DTCC
CTM but to all venues that tie into Virtu TradeOPS including SWIFT and
more”.
For Cliens,
the appeal is operational efficiency. CEO Martin Öqvist said “The
integrated solution that Virtu and Limina offer Cliens helps us extend our
straight-through process, giving time to more productive tasks which adds value
to our customer”.
Virtu,
which trades on hundreds of venues across more than 50 countries, has been
building out its post-trade services as firms look to outsource complex
operational tasks. The company’s TradeOPS platform handles matching,
settlements and payments — areas where mistakes can be costly.
In the
meantime, the company has introduced Virtu Technology Solutions (VTS), a
product suite designed to offer its execution services technology to sell-side
broker-dealers globally.
Trading
firm Virtu Financial (NASDAQ: VIRT) has teamed up with Swedish investment
management technology provider Limina to offer clients a combined platform that
handles everything from order management to post-trade settlement.
Virtu Financial Partners
with Limina to Streamline Trading Operations
The
partnership centers around Virtu’s TradeOPS platform, which automates the
back-office work that happens after trades are executed. Limina brings its
cloud -based order and portfolio management system to the table. Together,
they’re promising buy-side firms a smoother path from placing orders to
settling trades.
Swedish
fund manager Cliens has already signed on as the first client to use the
integrated service. The firm is now processing its trades through Virtu’s
system while managing orders through Limina’s platform.
“By
providing streamlined and effective solutions tailored to clients’ needs, we
can significantly reduce the operational burden and allow firms to refocus on
what truly matters: managing investments and driving performance,” said
Prem Balasubramanian, who heads Virtu’s TradeOPS platform.
The timing
isn’t coincidental. Recent changes in how trades settle have created new
problems for investment firms. The industry’s move to T+1 settlement , where
trades must be completed one business day after execution instead of two, has
compressed timelines. Meanwhile, the shift from older SWIFT messaging formats
to newer standards has added technical complexity.
Nordic Expansion
The
partnership appears designed to help Virtu expand its reach in Nordic markets,
where Limina has established relationships. Kristoffer Fürst, Limina’s CEO,
called the partnership “an obvious choice to further strengthen the
integration capabilities of Limina’s Order Management System, not only to DTCC
CTM but to all venues that tie into Virtu TradeOPS including SWIFT and
more”.
For Cliens,
the appeal is operational efficiency. CEO Martin Öqvist said “The
integrated solution that Virtu and Limina offer Cliens helps us extend our
straight-through process, giving time to more productive tasks which adds value
to our customer”.
Virtu,
which trades on hundreds of venues across more than 50 countries, has been
building out its post-trade services as firms look to outsource complex
operational tasks. The company’s TradeOPS platform handles matching,
settlements and payments — areas where mistakes can be costly.
In the
meantime, the company has introduced Virtu Technology Solutions (VTS), a
product suite designed to offer its execution services technology to sell-side
broker-dealers globally.
This post is originally published on FINANCEMAGNATES.
