FlexTrade Systems and JonesTrading today announced the successful deployment of FlexOMS as the new sell-side trading platform for its equities and electronic trading businesses. The solution will also be the full-service technology platform for JonesTrading’s growing outsourced trading offering.
JonesTrading partners with over 1,500 institutions and hedge funds, providing a range of liquidity sources, electronic trading and execution management services globally. As part of its regular strategic reviews of the technology solutions and vendor relationships that serve its various business units, JonesTrading identified the need to replace its incumbent sell-side OMS solution during Q3 of 2023.
Following a comprehensive evaluation of the available options in the market, the firm chose FlexTrade’s multi-asset sell-side trading order management solution, FlexOMS, as the optimal platform to expand upon their equities, outsourced, and electronic trading desks both now and in the future.
The project kicked off in 2023, with FlexOMS live and in production in record time, ultimately encompassing JonesTrading’s equities, electronic trading, and outsourced trading desk. Using FlexOMS’s open architecture and API-rich technology, the solution was also able to connect all of JonesTrading’s vital downstream systems, including reporting, accounting, best execution, and finance systems, within the allotted deadline.
Jack Garceau, Chief Technology Officer at JonesTrading noted:
“Firstly, our aggressive timelines meant that we needed to work with a partner who understood our business and offered flexible yet powerful technology solutions to meet our requirements. That was essentially the baseline. Equally crucial in our decision was selecting a partner that could value-add in addition to the technology by offering the services and long-term relationships that we need to continue to build out our service offerings. To continue growing, FlexTrade was that reliable partner that could meet our business needs from a technology perspective and deliver in the contracted time frame that the project demanded.”
Rajiv Kedia, Principal & Associate Founder at FlexTrade Systems added:
“We are delighted to welcome JonesTrading to the FlexOMS global client community and appreciate the confidence they placed in FlexTrade. It has been a pleasure working with the highly knowledgeable team at JonesTrading and we are happy to see this solution in place. It demonstrates clearly what can be achieved with a tight, synchronized approach between client and technology partner when implementing flexible, open OMS solutions. Our open-architecture, client-first approach has delivered cutting-edge trading technology and seamless straight-through processing to JonesTrading’s multiple business lines. We look forward to partnering further with JonesTrading to optimize and expand their use of FlexOMS to other business areas.”