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 trading offering.
JonesTrading works with more than 1,500 institutions and hedge funds, providing a range of liquidity sources, electronic trading and execution management services worldwide. As part of regular strategic reviews of technology solutions and vendor relationships serving its various business units, JonesTrading has identified a need to replace its existing sell-side OMS solution in the third quarter of 2023.
After a comprehensive evaluation of available options in the market, the company selected FlexTrade’s multi-asset trading order management solution, FlexOMS, as the optimal platform to expand its equities, outsourcing and online trading desks both now and in the future.
The project started in 2023, with FlexOMS live and in production in record time, eventually including JonesTrading’s equities, electronic trading and trading desk outsourcing. Using FlexOMS’ 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 specified deadline.
Jack Garceau, Chief Technology Officer at JonesTrading noted:
“First, our aggressive timelines meant we needed to work with a partner who understood our business and offered flexible yet robust technology solutions to meet our requirements. That was basically the basis. Equally critical to our decision was choosing a partner who could add value beyond technology by offering the services and long-term relationships we need to continue building our services. To continue to grow, FlexTrade was that reliable partner who could meet our business needs from a technology perspective and deliver within the contractual timeframe that the project required.”
Rajiv Kedia, Principal & Associate Founder of FlexTrade Systems added:
“We are pleased to welcome JonesTrading to the global FlexOMS customer community and appreciate the trust they have placed in FlexTrade. It was a pleasure to work with the highly knowledgeable team at JonesTrading and we are happy to see this solution implemented. It clearly shows what can be achieved with a tight, synchronized approach between customer and technology partner when implementing flexible, open OMS solutions. Our open architecture, customer-first approach has delivered state-of-the-art trading technology and seamless live processing across JonesTrading’s multiple lines of business. We look forward to working further with JonesTrading to optimize and expand the use of FlexOMS in other business areas.”