GLMX, a securities finance trading platform provider, is collaborating with Orchestrade, a provider of cross-asset trading, risk management and operations technology, to integrate their repo solutions.
The new partnership aims to provide greater trading and operational efficiency in global repo markets, by building pipes between the two platforms which the firms say will “enable front-to-back processing, and will provide clients access to real-time risk assessment tools”.
According to the partners, products combined will allow customers to instantly react to repo market activity and analyse risk.
“By teaming up with leading risk management platforms like Orchestrade, we are providing our clients with the agility to adapt and react to changes in the marketplace, which is vital in periods of extreme market volatility,” says Andy Wiblin, chief product officer and head of GLMX Europe.
Gordon Chan, general manager of Orchestrade, adds: “The securities financing industry is facing a number of challenges, ranging from increased regulation, higher cost of capital and skyrocketing maintenance costs of technology.
“Our partnership with GLMX aims to address these issues by delivering streamlined processing for our clients’ repo workflows, with the tools and capabilities in place to enhance their operations.”
Earlier this year, GLMX partnered with Adroit Trading Technologies, an enterprise trading platform for the buy side, for a strategic alliance that integrates GLMX’s electronic securities financing trading platform.
The connectivity streamlines securities financing workflows, enabling clients to access real-time trading workflow tools on both platforms, the firms say, further noting that the alliance benefits mutual and prospective clients across the traditional asset management and hedge fund segments.