CHICAGO--(EON: Enhanced Online News)--Citadel Technology and REDI Global Technologies today announced a strategic partnership that will combine market-leading order management (OMS) and position management (PMS) functionality from Citadel Technology with best-of-breed execution management (EMS) capabilities provided by REDI, recently spun off from Goldman Sachs. This powerful collaboration will bring to market a truly integrated OMS/EMS and an unparalleled end-to-end solution for the buy-side community.
“This partnership represents the future in asset management and we are delighted to offer clients the next generation in portfolio management, order management, execution management, and risk management.”
Citadel Technology offers a robust and highly flexible OMS, which allows for seamless connection to REDI’s proven EMS.
“REDI and Citadel Technology originated out of two of the most proven technology-driven financial firms,” said Tom Miglis, Chief Information Officer at Citadel and REDI Board Member. “This partnership represents the future in asset management and we are delighted to offer clients the next generation in portfolio management, order management, execution management, and risk management.”
The partnership was conceived to meet the growing industry demand for a truly integrated order and execution management system (OEMS). The superior asset-class coverage across listed and OTC instruments that will be provided by the forthcoming Citadel Technology/REDI solution will enable both firms to offer clients an institutional-level technology infrastructure with multi-currency, multi-broker, multi-prime OEMS and PMS capabilities.
The product offering will include:
- Seamless, intuitive workflow across portfolio managers, traders, and middle-office staff
- Complete multi-broker execution and multi-prime broker clearing
- Real-time position P&L and Risk management across listed and OTC asset classes
- Integrated pre-, real-time, and post-trade compliance checks
“REDI is a long-standing brand in the EMS space and indispensable to many,” said Larry Tabb, founder & CEO at TABB Group, the capital markets research and advisory firm. “Citadel Technology has taken a clean view of order management and created a streamlined, hosted OMS. The combination of these two firms’ technologies has the potential to raise the bar on execution and order management technology and increase the sophistication of the overall OEMS landscape.”
“Our clients drive everything we do, and this partnership between REDI and Citadel Technology is a unique opportunity to provide our clients with a seamless workflow across the trade lifecycle,” said Rishi Nangalia, CEO at REDI. “We’re excited to partner with Citadel Technology and will continue to pursue and deliver open, collaborative technology solutions that both meet our clients’ needs and move the industry forward.”
About Citadel Technology
Citadel Technology LLC (“Citadel Technology”) was originally established in 2009 as a wholly owned, independently operated affiliate of Citadel LLC. Citadel Technology provides solutions to help alternative and traditional asset management clients create and capture business opportunities in changing market conditions, using a proven technology approach that drives efficiency. Citadel Technology delivers multi-asset, multi-currency order, portfolio, and risk management technologies that deliver the most streamlined, powerful, intuitive and innovative workflow solutions in the market today. For more information about Citadel Technology, please visit www.citadeltechnology.com or contact Citadel Technology Sales at firstname.lastname@example.org.
REDI Holdings (“REDI”) operates the REDIPlus® Execution Management System, a leading global technology platform offered across the Americas, EMEA and Asia-Pacific through its wholly owned subsidiary REDI Global Technologies LLC, a registered U.S. broker-dealer and member of FINRA, and its global affiliates. REDIPlus® supports a wide breadth of asset classes, markets and trading strategies offered through its broker network, providing clients with access to a range of financial technology solutions. To learn more, visit www.redi.com.