GreySpark Partners Identifies Top Buyside OMS and EMS Offerings

12 December 2012

Demand for rationalisation of systems shape vendor offerings

GreySpark Partners, the capital markets consultancy, today announced that it has published a report on the buyside OMS and EMS landscape. This report analyses leading Order Management System (OMS) and Execution Management System (EMS) solutions operating in the equities and listed derivatives space. A high-level view of the competitive landscape is revealed by comparison of standalone OMSs, specialised EMSs and hybrid Order and Execution Management System (OEMS) solutions across the market.

Created for the purpose of connecting the buyside to their brokers, standalone OMSs revolutionised the way the buyside and the sellside conducted business. OMSs are robust and multi-functional, becoming enhanced as buyside requirements evolve and regulatory pressures add to complexity. The primary function of standalone EMSs is to provide the buyside trader with the power and speed to operate in a trading environment.

The Hybrid OEMS solutions try to straddle the whole trade life-cycle and tend to rely on a catalogue of dedicated modules to cater to specific client uses. GreySpark finds that OEMSs are emerging from the deluge of data created by the smaller trade sizes that result from high frequency trading.

GreySpark’s report reveals a trend in the vendors’ latest offerings for OMS and EMS platforms, which include multi-asset capabilities and real-time transaction cost analysis, in order to help measure how effectively both perceived and actual portfolio orders are completed. Additional offerings such as limit checking, basket and list trading, strategy trading, algorithmic trading, execution benchmarking, best execution reporting and regulatory reporting are becoming more commoditised, the report explains.

Anna Pajor, Senior Consultant, and co-author of the report at GreySpark commented, "In reviewing OMS and EMS solutions, we wanted to see how the vendors addressed the issue of connectivity as technology evolves. We believe that compliance capability will also become a prerequisite for any solution, given the dynamically changing regulatory environment”.

The research is a culmination of analysis on solutions from 11 selected vendors, assessing their equities and listed derivatives OMS and EMS solutions. This is a second report in three part series on Portfolio, Order and Execution Management systems.

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