Uniting Your Front Office and Beyond

The Characteristics of The Unified OEMS and Downstream Implications 

In the face of these market challenges, a united OEMS – one that shares a single, centralized source of truth – is critical to the front office and downstream.  

To identify such a solution, be on the lookout for these characteristics: 

A Single, Seamless Solution  

A united front office joins its OMS and EMS with more than just a FIX integration, leveraging the source code of both systems to bring together the traditional features associated with the OMS and EMS into one elegant solution.  

This seamless workflow goes beyond portfolio managers and traders to include execution venues as well as compliance, operations, accounting, and other middle- and back-office functions. Faster trade processing and fewer handoffs between departments improve efficiency and reduce errors in downstream processes. 

Synchronized Data Across the Firm 

Real-time front-office synchronization allows traders and portfolio managers to know exactly where their positions and trades stand at any given time, helping them generate investment ideas fast and quickly turn them into reality in the market. 

And with access to real-time trade information, the middle- and back-office are positioned for more prompt risk management and settlement. 

Strong Compliance Functionality  

When an order is initiated in a unified OEMS, the compliance engine seamlessly applies its rules and logic. And should that order be modified by a portfolio manager, trader, or trade support at any stage of the trade lifecycle, the change is instantly evaluated and updated throughout the system to ensure the order remains compliant.  

Stronger compliance in the front office streamlines compliance checks and reporting, simplifying the work of the middle- and back-office.  

What to Look for in an OEMS Vendor to Achieve a United Front Office  

In addition to the characteristics detailed above, if you’re looking to introduce a unified OEMS at your firm, here are some other things you’ll want to look out for.  

The simplest way to unite front office operations is to consolidate with one OEMS technology vendor.  

However, firms should be skeptical of technology vendors who simply add EMS functionality to their OMS or vendors who try to convert an EMS into an EMS with OMS functionality. While the EMS and OMS are both robust solutions, realizing the true benefit of a combined system requires code-level integration, not a patchwork approach.  

In addition, ask if your vendor specializes in a specific constituency. EMS and OMS providers have different offerings catering to different users. Find a vendor with relevant industry experience. 

Choose an OEMS vendor that offers the option to deploy their solution via the public or private cloud. Cloud deployment can eliminate the need for expensive infrastructure, enable real-time mission-critical support, and provide operational efficiencies across the firm.  

You should also choose a vendor with a proven history of continued product and functionality enhancements and an open architecture for connectivity through APIs. Selecting such a vendor lets you quickly add applications, future-proofing your technology investment and ensuring your business is ready for what comes next.  

Finally, your OEMS vendor should offer reliable and personalized support at each step of the process. Unifying systems has the potential to bring great value to your firm, but realizing that value requires an OEMS vendor that can serve as your technology partner, guiding you through all the phases of the project – from implementation and deployment to supporting your ongoing growth.