International broking agency Olivetree Securities has selected financial software provider IRESS as its Australian partner to provide order management services.
According to IRESS, the software company will provide its order management system, IOS, to Olivetree as it grows its presence in the Australian market.
Olivetree Securities is the Australian operation of Olivetree Financial, an "independent agency broker" with offices in London, New York and Sydney and offers institutional broking services founded on the use of advanced data and analytics capabilities.
IRESS managing director of financial markets for Australia and New Zealand, Kirsty Gross, said it was "pleasing" to see an established overseas broker setting itself up in the Australian market.
"We are delighted that Olivetree has selected IRESS systems as it seeks to build its institutional base in Australia and we welcome them to the IRESS network, which serves a large proportion of the Australian broking community both locally and internationally," Ms Gross said.
Olivetree Asia chief executive Ian Simmonds said the company needed a partner in Australia that "could understand our needs and who we could rely upon to deliver us broad coverage in the Australian institutional market".
"We focus on applying technology to enhance investment decision-making and trading strategies," he said.
"This collaboration has established a seamless execution, reporting and clearing platform for agency institutional equities trading globally, irrespective of the range of portfolio management systems used by clients."
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