Execution systems

I guess there are historical and market-related reasons why many buy-side firms end up with multiple execution management systems (EMSs) but I find surveys that say they have reduced the number down on average to 2 or 3 quite amusing. I always wonder how many they started out with to begin with.

EMS Trends

Speaking of EMSs the recent trend on the buy-side is to purchase systems that not only cover multiple asset classes, offer great functionality but more importantly are broker neutral.  I guess this is all part of the buy-side trying to become more efficient and economical – all good but will not please some stockbrokers and vendors.

Cure

If any of you suffer from insomnia you may like to try reading some of the latest sets of policies and procedures that govern trading room conduct. One bank in the US says that with all the new rules and regulations being introduced, their ‘booklet’ has become the size of a telephone directory and I can just imagine the number of people needed to keep it all up to date. Perhaps any brokers who lose their jobs can apply to the compliance department.