FlexTrade Systems has rolled out a new ‘all-in-one’ issue management system, FlexNIMS, which allows public equity traders to plan, manage and execute equity offerings.
The solution is designed to cut the time and risk involved with the new issue management process for initial public offerings, (IPOs), follow-ons and block trades by managing the process from the deal evaluation phase, internal interest aggregation and approvals, to compliance checking, and customised individual allocations on deal day.
Vijay Kedia, president and CEO at FlexTrade said: “We are pleased to launch FlexNIMS, the only product of its kind that is seamlessly integrated with a multi-asset EMS, multiple OMS solutions and provides end-to-end automation of primary market workflow while reducing risk and connecting all parties in the pre-IPO process.”
“FlexNIMS enables buy-side firms to capture PM interest in equity offerings, aggregate interest across the firm, automate compliance checks, allocation and finally book the trades in their OMSs. The power in this tool derives from the close working relationship and deep insight from our client, Neuberger Berman, and demonstrates our commitment to innovation,” Kedia added.
Touted benefits of the solution include: comprehensive end-to-end ECM workflow for primary market equity deals; calendar-based system encompassing order entry, aggregation, allocation and booking; digital order entry and allocation, reducing errors and increasing PM/trader efficiency; automatic publication of deal notifications throughout lifecycle of offering; sub-allocations according to the user’s internal allocation policy; incorporation of internal legal, compliance and oversight policies; and OMS integration to facilitate order booking and finalisation.
© Markets Media Europe 2023
