JonesTrading has moved its firmwide middle office operations onto LBX Post-Trade Hub in partnership with cloud-native buy- and sell-side trading solutions provider, LiquidityBook.
The LBX Post-Trade Hub will retire a legacy solution that was in place at JonesTrading for nearly 2 decades and will serve as a single, standalone middle office allocation system, interfacing with multiple front office OMS platforms and clearing brokers.
JonesTrading is a leading executing institutional broker-dealer and among the preeminent block trading firms globally. Already working with LiquidityBook since 2014, the brokerage firm has now expanded the relationship by rolling out LiquidityBook’s middle office offering, which allows JonesTrading to:
- Receive trades from disparate OMS platforms and shape them correctly for multiple clearing brokers
- Interface with CTM and third-party FIX networks to receive and match trades/allocation instructions from customers
- Leverage LiquidityBook as a firm-wide reporting system for all trading & allocation activity
STP ahead of T+1 deadline
Jack Garceau, CTO of JonesTrading, commented, “We are excited to have expanded our relationship with the team at LiquidityBook, who have proven themselves to be partners to our business time and again. The LBX platform’s flexible architecture and API framework have allowed us to easily integrate it with our existing technology and workflows. This has made the onboarding process as seamless as possible, and the LiquidityBook team’s ability to meet every milestone on this project further validated our decision.”
Sayant Chatterjee, COO of LiquidityBook, added: “The team at LiquidityBook is thrilled to have onboarded JonesTrading to LBX Post-Trade Hub, building upon our successes over the past 10 years. This is an important milestone for our sell-side middle office solutions and a testament to the interoperability and modularity of our framework, as well as the efficiency of our integration and onboarding processes. As we near the T+1 deadline, we are excited to continue helping firms achieve straight-through processing in addition to delivering new enhancements to our comprehensive range of cloud-native buy- and sell-side trading solutions.”
LiquidityBook handles order management, FIX connectivity, portfolio management, and trade processing for a variety of trading companies and is respected as a leader in SaaS solutions for the modern trading desk.
LiquidityBook has launched LBX Portal, an SaaS-based solution that brings further efficiency, transparency and speed for market participants.
The LBX Portal was launched in 2022 and offers clear, preconfigured solutions for different client needs and enables sell-side firms to deliver a wide range of OEMS capabilities to their clients while streamlining their own workflows.
The relationship between the two firms deepened further when Sayant Chatterjee moved from JonesTrading to LiquidityBook as its COO. He was Chief Information Officer for over seven years at the brokerage firm and spearheaded product development initiatives to create industry-leading trading services across all of Jones’ business lines.
Prior to that, Mr. Chatterjee was at Fidessa for nearly 13 years and worked on all aspects of the business, including implementation, product management, and strategy, as well as expanding the company’s presence in Asia.
