Hedge fund tech provider Eze Software Group has issued a patent for its management system, the RealTick® EMS. The patent covers the proprietary technology and methodology for the staging of electronic orders into a neutral (aggregation) account for execution, providing ultimate flexibility and workflow efficiency to traders while maintaining their anonymity.
“We are excited to have been issued this patent,” said Daniel Rooney, president of Eze Software Group’s RealTick EMS division . “RealTick has always been a leader in providing multi-broker functionality and this patent recognizes that strength. Since its release, a majority of our customers have adopted Neutral Account Staging for aggregated orders as their preferred workflow.”
This unique, proprietary staging workflow provides RealTick EMS users with an unparalleled level of control for multi-broker trading. Traders can stage orders without committing to a specific broker, and then send portions of the staged order to multiple brokers.
“RealTick’s patented method uses a two-tier accounting system, where the parent-order is staged into a neutral aggregation account and each child-order is placed in a broker sub-account,” said Derek Gover, director of trading systems development for Eze Software Group’s RealTick EMS division and co-inventor of the patented system. “The details of the child-order are revealed only to the broker executing that portion of the order.”
The trader remains in control of execution decisions at the time of the trade, but each broker in RealTick’s extensive broker-dealer network controls attributes of their sub-accounts, such as suitability rules, credit checks, and short locates. RealTick’s patented Neutral Account Staging method simplifies and streamlines the order management process for multi-broker trading, providing greater control and workflow efficiency to both buy-side and sell-side customers.
“This is an important and exciting milestone for Eze Software,” said Tom Gavin, chief executive officer of Eze Software Group . “It is a testament to the talent and expertise of our employees, and of our dedication to providing innovative and cutting-edge technology solutions.”
Eze Software Group’s RealTick EMS is an award-winning, global execution platform providing comprehensive trading, data and risk solutions. RealTick EMS features advanced multi-broker, global cross-asset execution capabilities with access to a network of more than 200 brokers worldwide. RealTick EMS’s unsurpassed flexibility, world-class client service, and fully configurable and intuitively integrated software have earned multiple industry awards and accolades over the course of more than 25 years of industry-leading innovation.