Trading is changing, with protocols such portfolio trading transforming the way some asset managers are executing orders. Traders need to adapt to new ways of working, which puts pressure on their order management system (OMS), the workhorse of the dealing desk. Buy-side desks must deliver more multi-asset trading, more digital communication and workflow, while taking advantage of new execution protocols. Yet while innovative OMSs can enable efficiency in trading, legacy tools can be bottlenecks if processes are compartmentalised.
Brett Schechterman, global head of business for thinkFolio at IHS Markit, outlines the OMS innovations necessary to ensure traders can achieve best execution for clients over the next 18 months even in the most choppy markets.