Sova Capital Prime Services has selected Iress as its third-party order management system to support its post-trade processing and middle office function.
The technology will feed all trading data into Sova Capital’s back-office system, Calypso and Sova Capital’s back-office reporting product, Sova smart, an online reporting and middle-office trade entry tool.
IRESS provides multi-asset, multi-market risk and order management capabilities for developed markets across the US and Europe.
Grigoriy Kozin, head of prime services at Sova Capital Prime Services, commented: “We selected IRESS after careful consideration of multiple potential vendors. Key considerations were long-term viability, technical functionality and product integration capabilities.”
He added: “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 and trading at IRESS, said: “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.”
