Melbourne, VIC OpenMarkets, Australia’s fastest growing technology stockbroker, has taken the next step toward its goal to be the sector’s most connected broker an expansion of its third party network with integration to IRESS’s Private Wealth Management (PWM).
The integration couples the benefits of OpenMarkets low cost, technology-enabled clearing and execution services with IRESS popular portfolio management tool, providing an all-in-one broking and portfolio management solution.
Advisers and intermediaries using PWM to manage and balance client portfolios can now generate orders in bulk directly from PWM to OpenMarkets, removing the need for the manual entry of individual orders in external systems. Transactional data generated by these executed trades is then stored at the underlying client level in PWM.
We view this integration as another step towards becoming the most connected broker, to provide choice, connectivity and greater convenience to our clients, and to support the wider wealth creation ecosystem, said Andrea Marani, OpenMarkets CEO.
It is also an example of OpenMarkets delivering on its goal to be a collaborative integrated solutions provider.
The integration was made possible through the connection of IRESS IOS+ (order management system) and OpenMarkets order management system.
IRESS Managing Director of Financial Markets, Australia and New Zealand, Kirsty Gross said, we are pleased to extend our partnership with OpenMarkets. As a unified and integrated solutions provider, we are focused on continuing to provide a broad and deep range of solutions to different industry participants.
Automated wealth provider and technology company, Republic Wealth Management, is the first of OpenMarkets intermediary clients to begin using the service.
Through OpenMarkets integration with PWM we are able to scale our business with a more robust trading and rebalancing engine, provide better reporting and automate the overall management of client portfolios, said Republic Wealth Management Executive Director, Laurence Milne.
In addition to IRESS PWM, OpenMarkets clients can also trade using IRESS trading systems IOS and IOS+.
Genevieve Wood, OpenMarkets Communications Manager
P 03 8199 7702 E firstname.lastname@example.org