Two Years Later: Stability and Scale at JonesTrading with FlexOMS

For 50 years, JonesTrading has been a global leader in institutional trading and relationship brokerage. Its unique offering of high touch client attention paired with advanced access to electronic capability means its technology platforms are strategically crucial to serving its institutional, hedge fund and investment banking clients. 

After a stagnation period on its incumbent technology, Jones identified the need to replace its order management system (OMS). The firm sought a reliable, long-term partner that could deploy a modern solution quickly across all U.S. business lines — including high-touch cash equities, electronic trading, derivatives, low-touch electronic and program trading, and its outsourced trading offering. 

Equally important, Jones aimed to future-proof their technology with a dynamic partner capable of supporting its broader business initiatives — from prime services and outsourced trading to their proprietary algo business. FlexTrade’s open, multi-asset platform offered the foundation for this vision, integrating multiple MPIDs and clearing brokers within a single OMS instance while delivering innovative solutions for both low-touch and high-touch trading in listed options. 

Selection & Implementation 

Placing stability and reliability at the forefront, FlexTrade’s Sell-Side OMS was chosen for its ability to exceed Jones’ trading throughput and functionality requirements while integrating with all downstream systems, including its middle-office platform along with their reporting, accounting, compliance, best execution, and finance systems.  

Due to the large number of traders and non-trading staff to be implemented, as well as the complexity of the workflows across its various desks, it was critical that the OMS be deployed promptly and with minimal friction to maintain business continuity.  

With senior leaders from both firms overseeing implementation, FlexTrade and Jones’ project teams partnered closely to meet aggressive timelines and ensure seamless delivery across all U.S. business lines during the initial implementation in record time. 

Outcomes: Two years later 

After a successful implementation, Jones has been able to enjoy the long-term reliability of a leading OMS platform – noting stable client interaction, no major outages, and a robust trading ecosystem. 

In 2024, the first full year after the implementation, U.S. equity markets saw increased volumes with an ADV of 12.2 billion shares, up 10.2% year-over-year. During this period, Jones’ trading platform has remained stable and dependable, with no major outages, scaling easily with the increase in trading volumes. 

Furthermore, they have been able to take advantage of having multiple clearing brokers under a single OMS. This multi-clearing capability, coupled with the implementation of an additional MPID, is a unique workflow design that reduces clearing costs and allows traders to stay within one system while directing orders through different clearing firms, providing for maximum client fulfillment. The result is a more flexible, efficient platform that positions Jones to scale without adding complexity. 

Looking forward 

JonesTrading is a relationship-driven firm, with client service and reliability at the core of its business model. As trading volumes continue to grow, OMS dependability is essential for ensuring seamless operations and preserving the firm’s reputation for superior client service, which is critical to maintaining and growing its large institutional client base. 
 
By choosing FlexTrade, Jones has future-proofed its OMS platform technology. The firm now has the ability to scale confidently into new asset classes, workflows, and lines of business as strategic needs evolve. In the near term, Jones plans to expand its use of FlexOMS by onboarding additional clearing brokers, further optimizing cost efficiencies for both the firm and its clients.