All books

Professional

Apps About Coach Log in Start reading

Quantitative Finance · Glossary

What is Order management system, execution management system?

Also known as: order management system · execution management system

Definition 20.1 Microstructure and Execution · Chapter 20 — The Buy-Side Trading Desk and Its Brokers

An order management system (OMS) holds the fund’s orders and positions from the portfolio manager’s decision to settlement: compliance checks, allocations to accounts, the record of what was ordered and done. An execution management system (EMS) is the trader’s screen for working orders: market data, brokers’ algorithms and direct market access, and the child orders and fills in real time.

Read in context →