Two investment technology vendors, SimCorp and TradingScreen, have formed a front-office partnership that they say will tackle automation and data-sharing problems within integrated order management and execution management systems.
The two firms have created a cross-asset order execution management system, or OEMS, for asset managers to use across the “entire investment and trading lifecycle”.
The ‘front-to-back office’ system acts as a central repository for trading data and reporting, tackling many of the “pain points” associated with current integrated OEMS offerings, the firms said.
SimCorp is the provider of Dimension, an investment management tool that supports $20 trillion in assets and which is widely seen as a rival to BlackRock’s Aladdin offering.
Varghese Thomas, chief strategy officer at TradingScreen, said the alliance combines TradeSmart’s EMS with the SimCorp Dimension OMS and would increase the ability for fund managers to deliver best execution.
Front-office workflow simplification is another major result, the firms said, by enabling institutional investors to consolidate multiple execution platforms into one that extends across asset classes.
The solution is intended to help overcome difficulties in slow order entry, data sharing, automation and transparency, which are faced by portfolio managers, traders and compliance officers.
Matthew Reid, trading products manager, at SimCorp, said the solution would fill a “gap in the market” and claimed it held “the answer to many of the challenges faced by the global buy side community today” in terms of OEMS functionality.
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