Sell-Side Technology Awards 2023: Best implementation at a sell-side firm—LiquidityBook

Product: LBX Portal

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Overview

LBX Portal is a software-as-a-service (SaaS)-based solution enabling new levels of efficiency and transparency for market participants. Broker-dealers and outsourced trading firms can eliminate the friction resulting from managing multiple client order and execution management system (OEMS) logins, or otherwise contending with disparate workflows. Whether as their new front-end or as middleware to consolidate client feeds into an incumbent OEMS, firms can use LBX Portal to equip their clients with several trade management capabilities.

“Our ability to create what we call a ‘bottom-up’ commission structure is one of the most powerful parts of the platform. We’re able to not just provide data on overall client commissions, but break them down into soft commissions, broker commissions and retentions. Our hands aren’t tied, so neither are LiquidityBook’s, and that helps us bring clients through the door.”
Matt Krebs, director of outsourced trading, Capis

The solution

LBX Portal presents preconfigured solutions for different client needs and enables sell-side firms to deliver a range of OEMS capabilities to their clients, while streamlining their own workflows. Sell-side firms can offer clients a turnkey system ready to use for any client, which can scale to run any size firm. Buy-side firms working with LBX Portal partners gain access to a flexible system with straightforward paths to upgrade as they evolve.

Secret sauce

LBX Portal is designed to support efficiency at every step, with market data included out of the box and other market data sources―as well as a full range of third-party and custom functions―available via API integration. Real-time market data is delivered by FactSet and LBX Portal users are able to access FactSet-controlled market data to make trading decisions based on global streaming prices with robust depth of book.

Recent enhancements

  • LBX Portal: The core of LBX Portal has existed for years, but in 2022, LiquidityBook packaged a distinct suite of services for its sell-side and outsourced trading clients.
  • FIX normalization: LiquidityBook released enhancements to its FIX gateway, normalizing a variety of inbound sources to support its growing network of over 1,500 routing destinations.
  • Risk Gateway: Full support for 15c3-5 requirements, plus integration with the entire LBX stack

Future objectives

  • LBX Desktop: A high-performance, multi-window desktop trading application
  • LBX Portfolio Management: Adding pre-trade and intra-trade analytics capabilities
  • Trade Analytics: Adding pre-trade and intra-trade analytics capabilities
“Alongside the maturation and growth of our solutions for the sell side, continuing to build products that benefit the entire Street has increasingly become a top priority. LBX Portal is the culmination of our work toward providing both our buy- and sell-side clients with a product equipped to handle nearly any capital markets workflow. This recognition of our progress toward reaching this goal will further motivate us to lead the way.”
Sayant Chatterjee, COO, LiquidityBook

Why they won

LiquidityBook wins its first Sell-Side Technology award on the back of the implementation of its LBX Portal at Capis, a Dallas-based institutional brokerage firm. The SaaS-based platform is designed to allow sell-side firms to deliver a range of order and execution management functionality to their clients, while simultaneously streamlining their own trading workflows. The fact that the LBX Portal features embedded market data from FactSet―winner of the best data provider to the sell side category in these awards―further enhances its sell-side appeal.

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