Virtu Financial and Limina Team Up for TradeOPS Enhancement
Virtu Financial, Inc. (NASDAQ: VIRT), a leader in trading and execution services, is excited to announce a strategic partnership with Limina, a prominent provider of cloud-native investment management solutions. This collaboration centers around the enhancement of Virtu’s innovative TradeOPS platform, designed to optimize post-trade workflows.
TradeOPS serves as a comprehensive solution for clients, simplifying processes related to matching, settlements, and payments. This platform is engineered to automate the intricacies of post-trade workflows, including allocation matching, which effectively reduces delays in settlements and alleviates the workload for buyside firms. With Limina’s cloud-native order and portfolio management system (O/PMS), this partnership allows buyside firms to experience a unified, efficient operational flow.
Welcoming the First Joint Client
The partnership has already made significant strides, welcoming its first joint client, Cliens. The client is currently reaping the benefits of Virtu’s TradeOPS capabilities through the integrated services offered by Limina’s platform.
“We’re thrilled to collaborate with Limina to provide a modern and integrated workflow for our TradeOPS clients,” expressed Pegah Esmaeili, Head of Nordic Region at Virtu. This partnership aligns with Virtu’s commitment to scaling its outsourced trading solutions by working with innovative local companies, enabling the delivery of market-leading products to clients effectively throughout the region.
Navigating New Operational Challenges
As recent trends in post-trade settlements emerge, the financial landscape continues to evolve with shifts like T+1 settlement and the transition from SWIFT MT to MX. These updates introduce a wave of operational challenges for buyside firms. Prem Balasubramanian, responsible for overseeing Virtu's TradeOPS platform, noted, “By offering streamlined solutions that cater to the specific needs of our clients, we can alleviate operational burdens and enable firms to focus on investment management and performance.”
He further praised the collaboration, stating, “Working with Limina has been a pleasure. Their responsiveness has been exceptional, and we look forward to building on this partnership.”
Strengthening Integration Capabilities
Kristoffer Fürst, CEO of Limina, emphasized the suitability of this collaboration, saying, “This partnership optimizes the integration capabilities of Limina's Order Management System, enhancing connectivity not only to DTCC CTM but also to various venues linked with Virtu TradeOPS, including SWIFT.”
This integrated solution is designed to enhance straight-through processing for Cliens, enabling the firm to allocate more time to high-value tasks that bolster customer satisfaction. Martin Öqvist, CEO of Cliens, praised the collaboration, highlighting its impact on operational effectiveness.
About Virtu Financial, Inc.
Virtu Financial stands at the forefront of the financial services sector, utilizing advanced technology to deliver execution services, analytics, and connectivity products. With a robust market-making background, Virtu offers a diverse product array, enhancing trading capabilities across more than 50 countries and various asset classes. Their multi-asset analytics platform further provides clients with essential tools for managing investments and mitigating risks.
About Limina
Founded in 2014 and headquartered in Sweden, Limina's modern Investment Management Platform streamlines the investment lifecycle, enhancing productivity while managing operational risks. Catering to a global clientele that includes institutional fund managers and hedge funds, Limina has established itself with an award-winning cloud-native SaaS offering that continues to grow.
About Cliens
Cliens is dedicated to providing high returns through active fund management, focusing on a diversified portfolio that spans equities and fixed income. The firm emphasizes long-term investment strategies to build wealth for its clients.
Frequently Asked Questions
What is the focus of Virtu Financial's new collaboration?
The collaboration aims to enhance the TradeOPS platform, streamlining post-trade workflows and improving efficiency for buyside firms.
Who is the first client of this partnership?
The first joint client welcomed by this collaboration is Cliens, which is utilizing the enhanced capabilities of TradeOPS through Limina's platform.
What are the benefits of the TradeOPS platform?
The TradeOPS platform automates matching and settlement processes, reducing delays and helping buyside firms manage operational workloads more effectively.
How does this partnership assist clients in navigating market changes?
By providing tailored solutions to address recent operational challenges, the partnership allows clients to concentrate on investment management and performance improvements.
What types of services does Virtu Financial offer?
Virtu Financial provides execution services, market making, and a variety of analytics and connectivity products to clients across the globe.
