This announcement follows a comprehensive competitive selection process.
IRESS technology will provide Sova Capital with multi-asset, multi-market risk, order management and trading across markets globally.
The IRESS solution will be tightly integrated with Sova Capital’s back-office system, Calypso, and its own proprietary online reporting and middle-office client trade entry tool, Sova Smart.
Reflecting on the selection process which started in Q3 of 2018, Grigoriy Kozin, Head of Prime Services at Sova Capital, said: “We selected IRESS after careful consideration of multiple potential vendors. Key considerations were long-term viability, technical functionality and product integration capabilities. IRESS, with its breadth and depth of product capabilities, coupled with its scalable and robust solution ultimately led the way in demonstrating its ability to support our prime services requirement at this key juncture in our expansion strategy.”
Glenn Wilson, Head of Wealth & Trading at IRESS, said: “We’re excited to be working with Sova Capital on this implementation and look forward to enhancing its prime services business with the use of the IRESS order management platform. We believe the combination of our open access model, distributed technology and continued innovation in this area offers a great fit for Sova’s business.”
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