ITG, an independent execution and research broker, has launched a new hosted solution for ITG Order Management System (formerly known as Macgregor XIP).
This new web-based solution offers a cost-effective alternative to traditional OMS deployments for use by both long-only institutional investors and hedge funds.
The ITG OMS hosted solution also provides real-time market data capabilities, redundant FIX connectivity and disaster recovery functionality.
The first institutional investor to go live with the new solution is Affinity Investment Advisors.
"The hosted solution provides us with all of the functionality of ITG OMS without the need to purchase or lease dedicated servers and commit in-house information technology staff to support the platform," says Jeff Randolph, chief operating officer at Affinity Investment Advisors. "Installing ITG OMS will enable us to spend more time focusing on our clients and our investment performance."
Will Geyer, ITG managing director and head of platforms, says: "This hosted solution enables institutional investors to use all ITG OMS functionality via a web-based application, reducing IT spending without sacrificing stability, flexibility or performance. This innovation enables smaller asset managers and hedge funds to deploy ITG OMS, while larger institutions will be attracted by the built-in disaster recovery capabilities and FIX redundancy."