Mirae Asset Securities (USA) has selected FlexTrade Systems’ ColorPalette Order and Execution Management System (OEMS). The move is designed to support the firm’s overnight trading of large-scale order flows in US securities from its retail clients in the APAC region.
Mirae Asset Asset Securities (USA), a US subsidiary of Korea-based Mirae Asset Financial Group, operates an institutional capital markets platform to service professional investors with global business. To help the firm to achieve its growth mandate, Mirae identified the need to improve capabilities around complex workflow automation, scaling up its trading volumes, and streamlining its approach to low-and high-touch order handling.
Following a review of solutions available in the market, Mirae identified FlexTrade’s ColorPalette OMS as the preferred choice to satisfy its specific business needs.
According to the firms’, the deployment of FlexTrade’s ColorPalette OMS has helped Mirae improve efficiency and increase its scale allowing for increases in trading volumes without a corresponding rise in operational costs. Further, by automating low-touch orders, Mirae’s trading teams can focus resources on effectively handling their higher-touch order flow, reducing operational risk. In addition, Mirae has rapidly deployed ColorPalette as a hosted solution supported by close collaboration between FlexTrade and Mirae’s teams during implementation.
Stephen Bombardiere, managing director, head of agency trading, Mirae Asset Securities, said, “When selecting our new OMS partner, we had two main considerations. Firstly, we required cutting-edge OMS technology to provide a platform to scale and grow as our business requirements or objectives change. Secondly, we looked at how we could move outside the traditional client-vendor relationship and work with a technology business partner to help deliver change with minimal disruption to our trading teams and business as usual operations. We’ve achieved both objectives by selecting FlexTrade and ColorPalette and look forward to continuing to work together as we grow our business.”
Shane Remolina, director sell-side OMS sales and business development at FlexTrade, said, “We are very excited to partner with Mirae to help achieve their long-term goals. The solutions delivered by our OMS team have helped simplify complexity around overnight order flows for US securities in a high volume setting. In addition, order flow automation has enabled Mirae to add additional value to higher-touch scenarios, reducing risk and improving trading performance. The deployment of ColorPalette will deliver a competitive edge for Mirae as they look to meet their growing business needs and client obligations.”
©Markets Media Europe, 2022
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