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July 16, 2010

ITG Blends EMS and OMS Together

By John D'Antona Jr.

Agency broker Investment Technology Group is integrating trading blotter and compliance features found in its order management system into its execution management system.

ITG has integrated its Macgregor OMS with its Triton EMS system. The merging of the systems was a long time in coming--ITG originally bought the Macgregor XIP OMS in 2005, said Mark Wright, ITG's head of global product management.

"It has been a long time in the making, due to the complex workflows and deep integration that was required," Wright said.

In typical EMS/OMS configurations, the two systems are not integrated but merely linked by a FIX connection. With ITG connecting Triton and XIP, the broker eliminates some steps in the trading workflow, cutting out a step in which traders have to physically move order lists from the OMS trade blotter into the EMS blotter, a time-consuming process.

"So effectively, portfolio managers can now enter trade orders into XIP, including any relevant compliance instructions about broker restrictions, and they will show up instantly in the Triton EMS," Wright said. "So with this connectivity, our Triton system can be the trade blotter for the XIP OMS."

 

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