London, UK -- 15 February, 2018 -- Excelian, Luxoft Financial Services – the financial services IT consultancy division of Luxoft (NYSE:LXFT), a global IT service provider – today announced it successfully delivered an Order Management System (OMS) for a global trading house ahead of the MiFID II deadline on January 3.
Excelian Luxoft embarked on the project in late 2016 to build an OMS that supports the trading of energy and metals products whilst ensuring compliance with trading transparency rules under MiFID II. The project was delivered on time in December 2017, allowing the client to adjust to last minute changes to the directive which brought some energy companies within the scope of the rules.
“Eleventh hour changes to MiFID II could have compromised the successful delivery of this project. However, the team worked diligently to deliver this system on time and ensure it remained compliant,” said Alasdair Earl, Commodities Director at Excelian, Luxoft Financial Services.
Due to the success of the project, Excelian Luxoft is now implementing additional straight-through processing capabilities into the OMS for additional metal and energy products. Alasdair continued “the new system will help the business to thrive in the post-MiFID world by dramatically increasing the number of products it trades in the energy and metals markets.”
Excelian Luxoft were engaged from the outset for business and technical solution analysis and design, as well as for support and development services during build and run phases. With strong teams of senior analysts at the client site, Excelian Luxoft leveraged the collective financial, technical and regulatory knowledge of its team to ensure that the OMS was built and integrated quickly and efficiently.
Alasdair concluded “the team's strong knowledge of financial, regulatory and systems integration helped ensure that this client project was a success. We look forward to continuing this work as we help the company expand its capabilities in 2018.”
Luxoft (NYSE:LXFT) is a global IT service provider of innovative technology solutions that delivers measurable business outcomes to multinational companies. Its offerings encompass strategic consulting, custom software development services, and digital solution engineering. Luxoft enables companies to compete by leveraging its multi-industry expertise in the financial services, automotive, communications, and healthcare & life sciences sectors. Its managed delivery model is underpinned by a highly-educated workforce, allowing the Company to continuously innovate upwards on the technology stack to meet evolving digital challenges.
Luxoft has more than 13,100 employees across 41 cities in 20 countries within five continents, with its operating headquarters office in Zug, Switzerland. For more information, please visit the website.
This news release of Luxoft Holding, Inc (“Luxoft”) contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements include information about possible or assumed future results of our business and financial condition, as well as the results of operations, liquidity, plans and objectives. In some cases, you can identify forward-looking statements by terminology such as “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “expect,” “predict,” “potential,” or the negative of these terms or other similar expressions. These statements are subject to, without limitation, the risk factors discussed under the heading “Risk Factors” in Luxoft’s Annual Report on Form 20-F for the year ended March 31, 2017 and other documents filed with or furnished to the Securities and Exchange Commission by Luxoft. Except as required by law, Luxoft undertakes no obligation to publicly update any forward-looking statements for any reason after the date of this news release whether as a result of new information, future events or otherwise.
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Patrick R. Corcoran
Global Director, External Relations
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