Moving the OMS Beyond Order Management

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22 June 2016
United States

Today’s order management system (OMS) functionality has moved beyond simply receiving and routing client orders and has grown to encompass all facets of the trade lifecycle. It’s an essential part of any sell-side desk. With such an important role to play, the OMS can have a big impact on the efficiency of the trading desk.

At minimum, a sell-side OMS needs to support multiple asset classes to be considered a candidate for the entire brokerage firm. Compliance functionality and TCA are also considered must-haves. For certain proprietary analytics, the sell side will often rely on exporting data out of the OMS. For now this is acceptable, but vendors who can support flexible analytics and reporting within the OMS may have an advantage the next time buying season comes around.