Chicago-based Sky Road LLC has integrated San Francisco-based Marketcetera's open source automated trading platforms with Sky Road's solutions for cross-asset portfolio management. Sky Road's software as a service (SaaS) platform supports trading, risk and operations functions.

In a statement, John Borse, CEO of Sky Road, said, that as financial services firm face new pressures, "We are finding that financial institutions are increasingly in need of solutions that provide speed of implementation, flexibility, scalability, and comprehensive trading capabilities."

Sky Road is leveraging Marketcetera's open source automated trading platform to expand Sky Road's offerings to include enhanced trading functionality, such as electronic trade capture, order management and order routing, according to the release. The two firms' shared clients will benefit from the joint offering by being able to utilize Marketcetera's trading technology via Sky Road's hosted platform.

"We see a huge potential in the marketplace for hosted trading solutions, as evidenced by the SaaS platform we rolled out to our high frequency trading customers last month," stated Graham Miller, CEO of Marketcetera in the release. "By mashing up our platform with their own technologies to offer more visibility and control, Sky Road has demonstrated that they share our vision and understand the value of using alternative delivery channels to provide better trading capabilities to the marketplace," stated Miller in the release.