Financial Technology

Financial Technology

September 30, 2013

Citadel Technology and REDI Announce Strategic Partnership

Citadel Technology and REDI Global Technologies have announced their new strategic partnership. This partnership will combine order management and position management functionality from Citadel Technology with REDI's high quality execution management capabilities.

According to a company press release, "This collaboration will bring to market a truly integrated OMS/EMS and a solution for the buy-side community."

Tom Miglis, chief information officer at Citadel and a board member at REDI, said, "REDI and Citadel Technology originated out of two of the most proven technology-driven financial firms. This partnership represents the future in asset management and we are delighted to offer clients the next generation in portfolio management, order management, execution management, and risk management."

The partnership will help the companies keep up with the growing industry demand for an integrated order and execution management systems (OEMS). This partnership will allow both firms the ability to offer clients an institutional-level technology infrastructure with multi-currency, multi-broker, multi-prime OEMS and PMS capabilities.

This new collaboration will provide a seamless work flow for all service staff. It comes with complete multi-broker execution and multi-prime broker clearing and integrated pre-, real-time and post-trade compliance checks.

Larry Tabb, founder and CEO at TABB Group, a capital markets research and advisory firm, added, "REDI is a long-standing brand in the EMS space and indispensable to many. Citadel Technology has taken a clean view of order management and created a streamlined, hosted OMS. The combination of these two firms' technologies has the potential to raise the bar on execution and order management technology and increase the sophistication of the overall OEMS landscape."

"Our clients drive everything we do, and this partnership between REDI and Citadel Technology is a unique opportunity to provide our clients with a seamless work flow across the trade life cycle. We're excited to partner with Citadel Technology and will continue to pursue and deliver open, collaborative technology solutions that both meet our clients' needs and move the industry forward," REDI CEO Rishi Nangalia explained.

Edited by Alisen Downey

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