Andrew Yao FX Product Manager, Portware
Andrew Yao FX Product Manager, Portware

EMS vs. OMS: Key differentiating factors

Andrew Yao discusses why Execution Management Systems are likely to play a big role in the FX trading environment and illustrates how they differ from traditional OMS's.

First Published: e-Forex Magazine 24 / Features / July, 2006

Lately, while going through my mail, I'm noticing more and more conferences targeted toward the hedge fund community. Everything seems to be about hedge funds -- regulating them, operating them, selling legal services to them, and more specific to Portware, the tools they use to trade. To that subject, most discussion centers on the execution management systems (EMS) and order management systems (OMS) the hedge funds use. While these technologies grew primarily out of the equities world, the rapid rate of FIX adoption and the move toward more electronic trading in the FX markets has led to a significant uptick in the amount of foreign exchange functionality being integrated into them. Because of this development, it’s important at this time to clarify the distinctions between the two with specific regard to the FX markets.There seems to still be a lot of confusion about OMS and EMS technologies, both in the equities and FX worlds. One of the easiest ways to differentiate features when thinking about...continued

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