Commentary

Salil Pachare and Ilia Rainer
Traders Magazine Online News

Does the Tick Size Affect Stock Prices?

The Securities and Exchange Commission has recently released a whitepaper examining the change in tick sizes on trading based on data it collected during the Tick Size Pilot.

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Would the creation of a single central regulator in Canada affect your inter-listed trading strategies?




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More Articles - EMS/OMS

SIFMA Tech Show Sees Drop-Off

The annual Securities Industry and Financial Markets Association technology show, which took place in June, was the latest visible sign of an industry going through hard times.

Instinet Upgrades Newport EMS

Instinet has launched Newport 3, an upgraded version of its Newport execution management system, which is used by 1,200 firms globally.

Fidessa Attracts Global Trading Customers

* Fidessa Attracts Global Trading Customers Fidessa has found a sweet spot: the growing number of brokerages looking to trade in overseas markets. The order management system vendor has been signing some of them up to use its global trading service to get to them. Last month block traders JonesTrading, who recently launched an international trading operation, became the latest signee.

Linedata Amplifies LongView

Linedata Services wants to make it easier for buyside traders to send their orders to several execution venues simultaneously.

Report Sees Tough OMS Market

Order management system functionality is expanding just as buyside users' budgets for them are retrenching.

New Brokers Get New Platform

The dozens of institutional agency brokerages springing up don't need a lot, but they do need an OMS and an EMS to compete in today's marketplace. And trading platform provider Fidessa wants to grab a piece of this new market.

RealTick to Accelerate Algo Implementation

Broker EMS provider Townsend Analytics wants to simplify-and speed up-the process of implementing algorithms. Doing so would ultimately shave lots of time and money from the lengthy procedure.

EMS Continues Featured Role

The future of the execution management system is bright. Rumors of its imminent merger with the order management system have been premature. If anything, the stand-alone EMS will be around at least for the near future, because it continues to adapt to fit new needs, according to the latest report on the EMS by the Boston-based consultancy Aite Group. The EMS's role will continue to focus on increased global and multi-asset functionality, as well as risk management tools.

Advent Fills Research Gap with Tamale

Advent Fills Research Gap with Tamale Advent Software, makers of the Moxy order management system, plunged headfirst into the research management business with its purchase of Tamale Software.

UNX Puts New Engine Under Its EMS Hood

UNX Puts New Engine Under its EMS's Hood Agency broker UNX recently added more trading horsepower to its EMS. The firm built into its execution system an upgraded engine that generates intelligent, responsive, low-latency tools used to augment traders' orders. The tools-called "tactics"-work alongside algorithms or smart orders so traders can more efficiently and actively find liquidity. …

Risk Management? Think EMS

Portware has embedded risk management controls within the latest version of its portfolio trading application to prevent traders from accidentally auto-executing more shares than they have, among other things.

SunGard Scoops Up GL Trade

In a surprise move, SunGard last month announced it intended to snap up 65 percent of GL Trade, the Paris-based financial services giant, for $625 million. The deal encompasses NYSE Euronext's 40 percent stake in GL Trade, which the exchange operator decided to sell as part of a move to focus on its growing in-house technology and infrastructure services.

OMS Spending Keeps On Churning

Spending for order management systems on the buyside is expected to grow by about 12 percent a year over the next four years, according to a recent report by TowerGroup, a Needham, Mass.-based financial services consultant.

Fidessa's Algos Go Short-Term

Order management system vendor Fidessa has augmented its collection of BlueBox algorithms with a handful of short-term trading strategies. In designing its newest algos, the trading software vendor talked to traders and gauged their needs. In one case, they noticed how traders were sometimes performing repetitive manual actions that could be done automatically, said Matthew Rowley, Fidessa's vice president and global product manager for BlueBox.

OMS Vendors Regroup

NYFIX's sudden decision last year to stop selling order management systems to market makers highlights the difficulties vendors face in supporting this segment of the sellside market. The three vendors that remain acknowledge the challenges, but claim their multi-faceted strategies fit the times.