Sova Capital Teams Up With IRESS to Adopt its OMS

FCA-regulated multi-asset prime-broker Sova Capital has teamed up with financial technology provider IRESS, ushering in a new alignment that will help streamline its order management system.
The joint accord will add another third-party OMS to Sova Capital’s post-trade processing and middle office function, which helps the company manage its clients’ pre-trade risk, positions, portfolios, margin, order routing, and workflow. Sova Capital already works with a variety of EMS providers, allowing clients to choose the solution that matches their own needs.

Together with IRESS, the integrated OMS will form a key component of Sova’s prime derivatives trading platforms. In particular, this technology will feed all trading data into Sova Capital’s back-office system Calypso, and its proprietary back-office reporting product – Sova smart.
Access to over 9,000 stock CFDs
 is an Australian software company that focuses on the development of software systems and services for financial markets and wealth management.
IRESS also offers an online trading browser-based front-end, which allows to customize trading experience and provides online access to over 9,000  across 20 countries.
Commenting on the news, Grigoriy Kozin, Head of Prime Services at Sova Capital, said: “We selected IRESS after careful consideration of multiple potential vendors. Key considerations were long-term viability, technical functionality and product integration capabilities. IRESS, with its breadth and depth of product capabilities, coupled with its scalable and robust solution ultimately led the way in demonstrating its ability to support our prime services requirement at this key juncture in our expansion strategy”.
Glenn Wilson, Head of Wealth & Trading at IRESS, added: “We’re excited to be working with Sova Capital on this implementation and look forward to enhancing its prime services business with the use of the IRESS order management platform. We believe the combination of our open access model, distributed technology and continued innovation in this area offers a great fit for Sova’s business”.