Modern-day order management systems have evolved into sophisticated solutions that provide automated order management, portfolio modeling, compliance, and reporting features tightly knit together to create a complete investment management solution.
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Modern day order management systems have evolved into sophisticated solutions that provide automated order management, portfolio modeling, compliance and reporting features, tightly knit together to create a complete investment management solution.
Several factors are driving the market for buy-side order management systems (OMSs). They are growing regulatory and competitive pressure on buy-side firms to automate the process; rising trade volumes, which are stretching the capability of nonautomated processes; and the need to control trade processing costs and to reduce operational risk.
Four major trends are evident. (1) Operational and cost pressures are forcing buy-side firms to adopt OMS systems. (2) There is significantly greater interest in automating the fixed-income order management process. (3) Buy-side firms are demanding scalable OMS systems that can support global trading across multiple trade desks. And (4) there is a growing interest in accessing OMS systems via application service providers (ASPs).
There are over 13 major buy-side OMS systems in the market offered by vendors either as standalone systems that can be integrated with other investment management applications, or as integrated systems, as part of a larger suite of investment management applications.
There is a trend among the sell side to provide buy-side clients with OMS systems to attract order flow. State Street is offering its Global Link system to its buy-side clients with Eze Castle’s OMS embedded within GlobalLink.
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