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Spoofing, Surveillance and Supervision

Jay Biondo, Product Manager - Surveillance at Trading Technologies, co-authored an article along with James Lundy and Nicholas Wendland, both of Drinker Biddle & Reath LLP, reviewing the CFTC's regulations and expanding efforts, 21st century surveillance and supervision, as well as strategic recommendations.

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January 2, 2012

EMS/OMS Targets Hedge Funds

By James Armstrong

As the drive continues to merge execution and order management systems, TradingScreen has come out with a combined EMS/OMS aimed at alternative asset managers.

TradingScreen, which has traditionally focused on offering an EMS, decided to build up OMS functionality from scratch.

"This is from a total blank page," said Philippe Buhannic, chief executive officer of TradingScreen. "We decided to build it on our own, using some of the tools we have internally."

Though the convergence of EMS and OMS has been talked about for years, combining the two has proven to be challenging.

Buhannic said the leaders in the OMS category designed their systems 15 to 20 years ago, when technology was very different. If they want to now build out an EMS capability, they basically have to redo their entire systems, he said.

EMS providers, on the other hand, rarely have the expertise to create a full-fledged OMS, Buhannic said. He said TradingScreen was well positioned because it had as many people with a back-end background as it did with a front-end background.

"We clearly have a dual experience base, which is very rare to find," Buhannic said.

 

 

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