GLMX Technologies LLC (“GLMX”), a comprehensive technology solution for the trading of repurchase agreements and securities lending, and Orchestrade Financial Systems (Orchestrade), a leading provider of cross-asset trading, risk management and operations technology, are collaborating to integrate the two award-winning platforms for greater trading and operational efficiency for global repo markets. The new connectivity modernizes securities financing workflows, enabling front-to-back processing, while providing clients with access to real-time risk assessment tools and capabilities on commodity hardware.
This new relationship between the two platforms enables real-time view of risk, access to consistent pricing, as well as faster onboarding, high throughput and reduced friction in collateral mobility across securities financing transactions. With traders still adjusting to remote working parameters, Orchestrade’s streamlined cloud deployment capabilities combined with GLMX’s comprehensive data capture tools allow customers to instantly react to repo market activity and analyze risk, regardless of their location.
“The securities financing industry is facing a number of challenges, ranging from increased regulation, higher cost of capital and skyrocketing maintenance costs of technology,” said Gordon Chan, General Manager, Orchestrade. “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.”
“As GLMX extends its connectivity, we are driving forward the automation of repo markets, while enabling easy adoption of electronic workflows for market participants,” said Andy Wiblin, Chief Product Officer and Head of GLMX Europe. “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.”
Both firms are recipients of recent industry accolades with Orchestrade being voted Best Middle Office Solution in 2020 FTF Technology Innovations Awards and GLMX winning Best Infrastructure/Technology Initiative by an Exchange/ATS at the Fund Technology Awards.
