ESP LINKS TRADE AGGREGATION SETTLEMENT SERVICE WITH INDATA OMS

Posted April 2, 2008

NEW YORK – Order-routing solution provider ESP Technologies Corp. has integrated its settlement aggregation service with order management system and buy-side software solutions provider Indata’s Precision Trading Order Management System (OMS).

“ESP integration provides a seamless solution for Indata buy-side clients looking to counter the rising cost of trade processing and settlement,” says David Sher, Managing Director at ESP Technologies. “Furthermore, clients can now benefit from ESP settlement aggregation services without requiring any change to their existing trade routing or execution workflow.”

ESP’s settlement aggregation service reduces the number of trade settlements and allocations needed when executing trades across multiple venues to achieve best execution. The service is available in 23 markets in the US, Europe, Asia and Canada. Indata users can preserve their original broker execution, performance and commission details in the OMS for post-trade analysis and accounting.

“The integration we have completed with ESP allows our clients to obtain new efficiencies and cost-savings due to trade aggregation through their existing Indata trading and execution infrastructures,” says David J. Csiki, Managing Director, Indata.