Macgregor, a provider of execution process technology for the global financial community, said TimesSquare Capital Management, LLC has replaced their trade order management system (OMS) with the Macgregor XIP Order Management Network.
Fred Kramer, Vice President of Operations at TimesSquare commented, “Macgregor’s OMN goes beyond the scope of a traditional OMS to include the certification and end-to-end support for all of our broker connectivity. This solution enabled us to go live with thirty-five broker connections within one month. This is eight more than what we achieved after one year with our previous vendor. Being able to get the solution via an ASP was also important in our decision to switch to Macgregor. Comparatively, Macgregor’s solution has improved the efficiency of our trading process and lowered our total cost of ownership.”
Headquartered in New York, TimesSquare uses the portfolio management, trading and compliance components of XIP to manage over US $5 billion in assets. These components have replaced the Charles River Investment Management System (IMS) and are being delivered to TimesSquare through a third party technology partner of Macgregor’s.
Richard Cunningham, Senior Vice President of Sales for Macgregor stated, “For firms like TimesSquare who are looking for a low maintenance solution and high degree of broker connectivity, our OMN is a great solution. We are excited to have TimesSquare as a client and look forward to helping them continue to grow their business.”
Recently, Macgregor was acquired by ITG.