Live Blogging- TradeTech West Day One, Continued
Order Management System's Deal with Adversity
As the day continues, an interesting panel, "Overcoming Performance Issues With Your OMS To Maintain a Dependable Platform in Times Of High Volatility," was held. The panel began by asking traders how their OMS has performed during highly volatile trading and, surprisingly enough, over 70% responded ‘fairly well' or ‘very well'. Gregg Drumma, Vice President of Electronic Trading, Linedata Services, explains that this has to do with most OMS providers striving to be very responsive in fixing any issues and that, "when we as a vendor work with our clients to understand their unique needs and goals outside of our core application, together we are able to design an optimal solution that lowers any potential impact on core OMS performance." However, when traders were asked about how helpful/responsive their OMS provider is in resolving technical issues in a timely manner, the respondents were not so optimistic, with over 55% saying they were either ‘not' or ‘somewhat satisfied.' Panelists explained this might be due to the fact that many players decided to budget for an in-house OMS but failed to budget for any IT support or customization. "An OMS is like the highway system. Once you build a highway, you have to budget for maintenance and adapt to new demands," Drumma said. The panel closed with an agreement from the speakers that using two platforms, although not entirely difficult, is certainly not as efficient as using one, provided a single solution can satisfy all needs.
The Linedata Services Team
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