Order management systems (OMS) and execution management systems (EMS)--two key categories in the Securities Technology Ranking--illustrate how quickly technology can evolve in response to market developments, and how versatile vendors can be in providing innovative solutions. Some of the innovations are blurring the lines of demarcation between the two types of systems.
Several developments have spurred the need for OMS and EMS: The FIX, or financial information exchange, protocol opened the door for electronic trading, electronic communications networks expanded the number of trading venues, and high-speed algorithmic trading necessitated high-capacity systems to place trades and track results.
|
