Execution Management System

Project Background

The customer, a leading provider of market access and trade execution services, addressed EffectiveSoft with the request to enrich the existent client part of the system with a number of new features and extend the functionality of the server part.

Solution Highlights

After the analysis of the customer’s requirements, EffectiveSoft team detailed the functional specification considering the system architecture and its scalability in the future. To meet customer’s objectives, our team enhanced the system with the following key features:

• The provision of means for the evaluation of the trader’s performance in order to achieve firmer control over the execution processes.
• Order entry and management.
• Execution of algorithms for smart order execution.
• Customized reports for traders and their back-offices enable clients to review daily transactions and create custom views of critical data.
• Integration with prime brokers for receiving start-of-day information, uploading of trade allocations, handling of OATS (Order Audit Trail System) and other reporting requirements.
• The system can be customized to each trader’s screen specifications.
• A single gateway to fragmented liquidity destinations: public and dark.
• Aggregated, low-latency market data and ECN books.
• Integration of workflow tools spanning the front- to back-office.
• Integration with a variety of systems: internal, OMS, trading and third-party providers.
• FIX-based order staging/drop-copy.
• Automated back-office / compliance tools.
• Connection to EMS via FIX (Financial Information eXchange) or through other trading and order management systems.

Customer Advantages

The customer received a fully workable and secure system demonstrating the following benefits:

• Efficient and cost-effective trade execution for both buy- and sell-side clients
• Direct market access
• A high-speed gateway to multiple execution venues
• Mitigation of adverse price movement
• Single ticket clearing
• Quick trade execution while minimizing market impact and information leakage

Project Utilizes

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