EMS provider FlexTrade Systems has partnered with RSRCHXchange, an online marketplace for institutional research, to provide buyside traders with immediate alerts to the availability of research via the FlexTRADER EMS.
Launched last September, the RSRCHX platform was built in consultation with asset management institutions and research providers to improve upon the cumbersome legacy practices of research distribution and procurement, according to a press statement from both companies.
The platform enables asset managers to buy research in a more efficient, transparent and auditable way. They can also be entitled to access research from their existing providers, while the RSRCHX Dashboard allows asset managers to track firm-wide research consumption and improve the procurement process, which helps firms stay ahead of MiFID II unbundling requirements, continues the press statement.
Within FlexTRADERs trading blotter, the publication of new research on an instrument can be used as an indicator in FlexTrades low-touch order automation. A new piece of research might mean an order which was previously categorised as low touch, with no human interaction, might now require manual intervention.
FlexTRADERs open architecture and recent integration with Symphonys secure communications service enables traders to flag research to portfolio managers via Symphony with a single click. The portfolio manager can then decide whether they want to purchase the research and potentially adjust their investment decision.
FlexTRADERs integration with RSRCHX allows traders to actively monitor research from a variety of providers directly from their trading blotter.This integration adds an integral piece of FlexTrades strategic direction around regulation, in particular providing compliance with the unbundling of research costs required by MiFID II. We have integrated with bank research portals in the past, but RSRCHXchange provides the perfect platform to access research from many different providers, in an unbundled, MiFID II compliant manner, saidAndy Mahoney, director of business development for FlexTrade UK.
We are delighted to be working with FlexTrade to offer its buy-side clients access to a wide array of research from leading providers. By using our RSRCHX platform, FlexTrades buy-side traders can alert their portfolio managers to the availability of new, relevant research. This partnership expands our growing client base and we look forward to working with FlexTrade and its customers in the future, saidVicky Sanders, Co-Founder of RSRCHXchange.