Over time, the current debate over the value of execution management systems (EMSs) versus order management systems (OMSs) will become irrelevant, predicts Aite Group (Boston). Currently, according to research from Aite, investment institutions with a long-term focus tend to choose an OMS-only model, whereas investment vehicles such as hedge funds, which trade with great frequency and complexity, tend to lean toward EMS platforms.
However, the differences between the two will continue to blur as OMS vendors build or integrate EMS functionality into their platforms, the consultancy asserts. Aite also adds that industry consolidation and vendor acquisitions will make finding a truly independent EMS vendor more difficult than finding an unconflicted broker service.
Aite expects current spending of about $1 billion on EMS and OMS platforms to grow through 2010 to $1.2 billion.