Swan Wealth Advisors, a buy-side risk management specialist with US$850 million assets under management, has implemented a customized version of Omex’s OEMS platform for executing options strategies across its multiple custodians and sub-accounts.
The OMEX trade execution platform will serve as Swan’s primary hub for implementing and administering the firm’s options-centric strategies across multiple custodians and thousands of sub accounts.
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Robert Swan, director of trading and technology for Swan Wealth Advisors, said: "Like other managers with similar profiles, we’ve had to bear a myriad of logistical burdens when implementing strategies in tandem across a universe of accounts domiciled at multiple custodians, with each custodian imposing different order delivery instructions for its captive clients.
OMEX proved uniquely intuitive in understanding our business and delivered a solution that has streamlined our workflow in a manner that had yet been available at any price from any other vendor in the industry," Swan added.
John Houlahan, COO of OMEX Systems, said: "The steps required for electronic messaging pro-rata orders across various captive-custodians on behalf of respective RIA clients’ sub-accounts have always proved cumbersome, particularly in the options arena. The folks at Swan inspired us to innovate with an approach that solves a critical business need, and one that should prove intriguing to those seeking the latest advancements in trading system technologies."
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