Trading and execution services provider, Virtu Financial, and Swedish-based provider of cloud-native investment management solutions, Limina, have announced a partnership involving Virtu’s TradeOPS platform. The new collaboration aims to enable buy-side firms to “access a fully-integrated, front-to-back workflow seamlessly and efficiently,” claims a press release from Virtu.
Virtu describes TradeOPS as a “streamlined, consolidated platform that covers clients’ matching, settlements, and payment requirements”. It is designed to automate post-trade workflows, including allocation matching and settlements. Combined with Limina’s cloud-native Order and Portfolio Management System (O/PMS), the result is a fully-integrated, front-to-back workflow for buyside firms.
Prem Balasubramanian, head of Virtu’s TradeOPS platform, highlighted in a statement that recent changes in post-trade settlement, such as T+1 and the migration from SWIFT MT to MX, have introduced new operational challenges for buyside firms. He believes that streamlined solutions tailored to clients’ needs can significantly reduce operational burden.
