Retail Brokers
OMX Securities provides retail brokers with the transparency and flexibility to streamline their operations, delivering front-to-back automation and freeing them up to concentrate on their core business. Retail broking clients have real-time access and flexible drill-down capabilities into business information, including client money requirements, counterparty risk and FSA returns.
This complete solution provides dealing, settlement and custody on a single platform which is fully configurable to support complex and variable business processes and products. Agency dealing is available in the UK and all major international markets along with online research from major securities houses, custody for foreign holdings and foreign exchange. OMX Securities supports connections to multiple RSP gateways to achieve best execution.
Front Office
OMX Securities leverages the FIGARO technology platform, giving clients comprehensive functionality, including key front office key capabilities:
- Client inception, including all ‘Know Your Client’ data required by the FSA
- Order entry and routing workflow
- Direct execution capabilities against multiple RSPs, including automatic best execution.
- Automatic limit order minding
- Portfolio management features including: asset allocation analysis and portfolio risk; reverse portfolio enquiries; performance measurement and attribution analysis; CGT analysis and reporting; access to external/in-house broker research notes
CREST sponsored membership
OMX Securities is a registered CREST sponsor and provides clients with a CREST sponsored membership service.
Branded web portal
The OMX Securities web portal enables customers and their advisors to securely access their range of accounts. The ‘vanilla’ web site can easily be customised to meet the client’s requirements and can be integrated within the user’s existing corporate website or offered a standalone internet service.
Administration and settlement
OMX Securities provides managed clearing and settlement services in ASP, Model A and Model B environments.
• ASP - Fully managed and hosted service
- Users remotely access segregated & dedicated implementation of FIGARO
- Pre-configured to user's operational requirements
- The client firm assumes responsibility for execution and settlement
- Client leverages OMX CREST gateway
- Client has own participant ID and CREST accounts
- Client has full access to middle and back office function and the web portal
• Model A clearing - Shared operations, with all the advantages and features of the hosting service
- Client firm outsources its operational duties to OMX Securities
- Client is a sponsored nominee through OMX
- Client retains ownership and ultimate responsibility for execution and settlement
- OMX maintains the physical connection to CREST
- OMX facilitates and monitors clearing and settlement process
- Client holds and controls cash.
- Customers remain those of the client firm
- Client firm's balance sheet supports trading activities
• Model B clearing - Full outsourcing providing all the advantages and features of the hosting service
- Client outsources full operational responsibility to OMX
- Client contracts OMX to provide legal liability; responsibility for settlement and stock transfer
- OMX provides ownership and management of the CREST relationship
- OMX hold and controls cash and stock
- OMX collects commission and makes a net payment to the client firm
- OMX’s name and balance sheet supports the trading activity
- Client can monitor settlement activity and status at all times
- Client has full access to trading information
