Below extract courtesy of Wall Street Letter, as reported by WSL staff columnist Sean Creamer

OMEX Systems, a provider of web-based, broker-neutral and FIX-compliant front, middle, and back office platforms for broker-dealers and buyside firms, will craft a direct market access offering to aid broker-dealers in choosing algo providers, according to John Houlahan, chief operations officer.

New York City-based OMEX , which introduced its OEMS (Order and Execution Management System) in 2009, is creating newly-enhanced functions for traders interested in setting up direct market access to allow brokerages to place and modify orders on a faster basis, noted Houlahan.

“We are also building out functionality to facilitate direct market access clients via internal algorithmic parameter metrics,” said Houlahan. “We are building a DMA tool to allow broker-dealers to pick and choose various algo providers to place, modify, and monitor trades for intraday modification for cash desk, options, fixed income and futures.”

OMEX is also preparing to make its trading and execution functions available across the pond, so that global broker-dealers can have access to the offering, Houlahan said. The expansion comes on the heels of the firm being certified for use in the Mexican exchange network, he added.   Continue reading →