Traders can now get Paladyne’s order management system without having to purchase it as part of a larger, more expensive bundled trading solution.
Previously only available through the company’s full-service Portfolio Master system, the product is now offered as a stand-alone broker-neutral order management system for hedge funds or asset managers. It is integrated with Advent’s Geneva accounting engine and can be used as a tool to aggregate order management activities across a firm that has separate order and execution management platforms.
Why a standalone? Bennett Egeth, senior vice president at Broadridge Financial Solutions, said that by offering the base OMS system alone-the firm can charge a lower price. The hope, he added, is to bring on more customers regardless of what OMS or execution management system they use.
“There are clients who are only looking for an OMS system and don’t want other services such as our portfolio accounting module,” Egeth said.