Radianz has signed a deal with buy-side order management systems supplier Macgregor which will se the IT company use Radianz’s network to increase the number of brokers in Europe and Asia that Macgregor clients will be able to trade with electronically.
In a joint announcement, Macgregor said it selected Radianz because Radianz’s infrastructure is designed specifically for financial services, has 10,000 client sites, and handles the Financial Information eXchange (FIX) protocol. The company says the Radianz infrastructure will complement Macgregor’s full service FIX certification and support model, and reduce the time it will take Macgregor to add European and Asian brokers to the Macgregor Financial Network (MFN).
“MFN experienced tremendous growth again this past year and further European and Asian expansion is a key goal for us going forward,” says Stephen Alepa, executive vice president of the Macgregor Financial Network. “Today, about 25 per cent of our 200 brokers are certified for European and Asian trading. Our focus in 2004 will be to increase this to 50 percent. We felt Radianz was best suited to help us reach our goal given their experience in financial services, the flexibility of their infrastructure to handle different message types and their sizeable broker client base. For example, it will be much easier and faster to connect our buy-side clients to a broker in Asia if the broker is already connected to Radianz’s infrastructure.”
“Macgregor is an industry leader with a reputation for delivering very high levels of customer service and support,” adds Chris Church, executive vice president and head of Global Sales & Marketing at Radianz. “This agreement reinforces the quality, neutrality, and global reach of the Radianz infrastructure, which is optimized to meet the financial industry’s requirements for extremely high levels of performance, reliability, and security.”
Macgregor sales chief Kevin Milne and Radianz CEO Howard Edelstein used to work together at Thomson Financial ESG prior to the merger with DTCC that created Omgeo.