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A flexible order management solution that supports trading strategies across multiple asset classes, integrating real-time market data with analytics.
Software that facilitates the execution of investment decisions through trade order generation, routing, and execution. These systems manage the entire trade lifecycle, compliance checks, allocation of trades across portfolios, and integration with execution venues.
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Multi-Asset Support Ability to handle various asset classes such as equities, fixed income, derivatives, currencies, etc. |
Refinitiv OMS documentation and marketing indicate capability to handle equities, fixed income, derivatives, FX, and other asset classes. | |
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Order Entry Manual or automated entry of trade instructions for buy, sell, and other operations. |
All major OMS products, including Refinitiv, support order entry via manual and automated (API/FIX) workflows. | |
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Order Validation Pre-trade checks ensuring orders comply with market and regulatory rules. |
Refinitiv OMS provides order validation/pre-trade checks as part of core functionality for market/regulatory compliance. | |
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Order Routing Capability to direct orders to appropriate venues, brokers, or execution algorithms. |
Product description highlights smart order routing to multiple venues, brokers, and algos. | |
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Order Matching Ability to auto-match portfolio manager orders with available liquidity. |
OMS advertises auto-matching capabilities and liquidity management. | |
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Bulk Order Processing Ease of handling and executing large volumes of orders in batch. |
Bulk/batch order processing (for large orders and basket trading) featured in product documentation. | |
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Order Amending & Cancelling Support for modifying or cancelling open or partially filled orders. |
Order amending and cancels supported as standard feature for modern OMS. | |
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Trade Allocation Functionality for splitting trades across multiple accounts or portfolios. |
OMS supports allocations of trades across portfolios/accounts, as standard in the space. | |
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Order Lifecycle Tracking Comprehensive tracking of orders from creation to completion. |
Full order lifecycle visible from entry to completion through the system dashboard. | |
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Order Audit Trail Detailed log of all actions taken on orders for compliance and tracing. |
Exhaustive order audit trail is a compliance requirement and cited in product literature. | |
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Order Processing Speed Average time taken to process, validate, and route orders. |
No information available | |
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Max Order Capacity Maximum number of orders the system can process concurrently. |
No information available | |
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Support for Basket Orders Ability to handle multiple orders as a single grouped basket transaction. |
Basket/trade list support is cited for ETFs and multi-asset execution. |
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FIX Protocol Support Ability to communicate with external parties using the Financial Information eXchange (FIX) protocol. |
FIX protocol is supported for broker and venue connectivity per spec sheet. | |
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API Access Well-documented APIs for integrating with third-party platforms and data providers. |
API integration is offered for custom workflow and third-party integration. | |
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Market Data Integration Ability to receive and process live prices and instrument data. |
Integration to real-time market data is a core Refinitiv feature, explicitly mentioned. | |
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Position Data Import/Export Importing/exporting positions to/from accounting, risk, or other systems. |
Position data import/export supported for reconciliation and reporting. | |
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Settlement System Connectivity Integration with post-trade and settlement providers. |
Connectivity to settlement and post-trade infrastructure is highlighted in offering. | |
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Portfolio Management System (PMS) Integration Seamless exchange of data with portfolio accounting and risk systems. |
PMS (portfolio management system) integration with major vendors and proprietary platforms is advertised. | |
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Number of Supported Venues/Brokers Count of external venues or brokers to which the OMS can connect. |
No information available | |
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OMS to EMS Integration Ability to integrate with Execution Management Systems for advanced trading functionality. |
EMS integration (FIX and API) supported per product technical details. | |
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Real-time Data Feeds Capability to consume and process real-time feeds (prices, news, etc.). |
OMS advertises real-time streaming data and low-latency feeds for trading. | |
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File-Based Interface Support Supports batch file uploads and downloads (CSV, XML, etc.) to exchange data. |
File-based integration for batch uploads/imports (CSV/XML) is industry standard and supported. |
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Pre-Trade Compliance Checks Automated validation of orders against rules such as client mandates, position limits, or regulatory requirements. |
Pre-trade compliance validation is core in any OMS addressing institutional fund managers. | |
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Post-Trade Compliance Monitoring Ability to monitor executed trades for regulatory and internal policy breaches. |
Post-trade compliance review and monitoring modules are outlined in Refinitiv literature. | |
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Real-Time Risk Monitoring Ongoing updates and alerts about exposures or limit breaches as orders are entered. |
Real-time monitoring and configurable risk alerts/limits are in marketing materials. | |
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Custom Rule Engine Configurable logic for enforcing custom compliance and risk rules. |
Custom rule engine for compliance and pre/post-trade risk cited in product datasheets. | |
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Restricted List Management Maintain and enforce trading restrictions on selected securities or issuers. |
Product supports restricted list/grey list functionality for compliance. | |
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Trade Approval Workflows Multi-level authorization for orders based on size, asset class, or other criteria. |
Multi-level trade approval workflows configurable per user group/rules. | |
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Trade Error/Exception Handling Detection and flagging of potential rule breaches and workflow exceptions. |
Trade exception and error flagging/handling tools are standard and referenced. | |
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Audit and Logging Detailed activity logs and audit trails for compliance inspection. |
Detailed audit logging for compliance/traceability is emphasized as a design point. | |
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Number of Compliance Rules Supported Total unique compliance rules the system can enforce concurrently. |
No information available | |
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Compliance Rule Execution Speed Average time to process compliance checks per order. |
No information available |
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Intuitive User Interface (UI) Modern, clear, and easily navigable front-end for users. |
UI noted for intuitive workflow and modern dashboards, as per Refinitiv marketing. | |
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Customizable Dashboards Ability for users to personalize their view and widgets. |
Customizable user dashboards available per user persona and workflow. | |
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Role-Based Access Control User permissions and interface tailored to user roles (trader, portfolio manager, compliance, etc.). |
Role-based access and permissions highlighted as a standard enterprise feature. | |
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Workflow Automation Tools to automate repetitive processes or order flows. |
Automated workflow tools (rules/events) are a focus in product literature. | |
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Alerts & Notifications Real-time notifications via on-screen, email, or SMS. |
Real-time and configurable alerts/notifications shown in UI screenshots and docs. | |
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Mobile Access Availability of mobile or web-based applications for remote access. |
Refinitiv offers mobile/web access for front/middle office workflows. | |
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Bulk Editing Ability to modify multiple items in a single operation. |
Bulk editing/mass action supported for orders and positions. | |
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User Training Modules In-system guided learning and help resources. |
Guided tutorials/help modules are part of the onboarding and support materials. | |
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Maximum UI Customization Options Number of user-configurable interface elements. |
No information available | |
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Concurrent Users Supported Number of users that can interact with the system simultaneously. |
No information available |
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Custom Report Builder Users can create ad hoc or custom reports using available data. |
Ad hoc/custom report builder features are referenced in the product specs. | |
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Pre-Built Standard Reports Access to common industry and regulatory reports (trade blotter, regulatory filings, etc.). |
Comes with standard regulatory/trade reports as built-ins. | |
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Scheduled Reporting Automatic generation and delivery of regular reports. |
Scheduled/recurring report generation, automatic delivery, is stated. | |
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Export Formats Variety of export options such as PDF, Excel, CSV. |
Supports export to Excel, CSV, PDF, and other standard formats. | |
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Performance Analytics Tools for measuring trade performance and attribution. |
Trade performance and analytics modules present per product materials. | |
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Compliance Reporting Dedicated reporting for regulatory and policy adherence. |
Compliance reporting is a standard feature; compliance module for regulatory/policy reporting. | |
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Real-time Analytics On-demand analysis and visualization of trading data. |
On-demand, real-time analytics/dashboard for trades and positions. | |
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Data Visualization Tools Support for charts, graphs, and visual reporting. |
Extensive visualization/dashboarding present as per marketing screenshots and demos. | |
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Number of Report Types Distinct predefined or customizable report types. |
No information available | |
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Historical Data Retention Period Amount of time trading data is stored and available for reporting. |
No information available |
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Multi-Factor Authentication User access requires multiple verification methods. |
Multi-factor authentication is listed as included security standard. | |
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Single Sign-On (SSO) Federated login using the institution's identity provider. |
Single sign-on (SSO) with enterprise identity provider/Federated login is supported. | |
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Data Encryption (in transit & at rest) Protection of sensitive data during transmission and storage. |
All data is encrypted at rest and in transit using industry standards. | |
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Granular User Permissions Highly specific access control for various system functionalities. |
Granular, role/user/group-level permissioning referenced across product docs. | |
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Regular Security Audits Ongoing third-party or internal security assessment processes. |
Vendor regularly touts ongoing third-party and internal security reviews. | |
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Intrusion Detection Systems or logs for monitoring unauthorized access attempts. |
Intrusion detection is described as a component of OMS security monitoring. | |
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Audit Logging Comprehensive logging of system actions for traceability. |
Extensive audit logging of every action is a compliance must-have and standard feature. | |
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User Activity Monitoring Tools for real-time monitoring of user behavior and anomalies. |
Tools for user activity monitoring (including session tracking and anomaly detection) are present. | |
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Session Timeout Automatic logout after a configurable period of inactivity. |
Automatic session timeout after inactivity/features to configure session length exist. | |
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Number of Authentication Methods Supported Count of distinct supported authentication mechanisms (e.g., password, biometric, token). |
No information available |
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Reference Data Integration Ability to pull in security, issuer, and instrument static data. |
Instrument, issuer, and reference data integration with major vendors and Refinitiv's own data. | |
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Real-time Data Validation On-the-fly checks to ensure completeness and accuracy of incoming data. |
Real-time data validation on inbound orders/positions/data is described. | |
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Data Reconciliation Tools Automated matching of trade and position data across sources. |
Reconciliation tools for trade/position matching available, along with exceptions reconciliation. | |
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Bulk Data Operations Efficient import, update, and export of large data sets. |
Bulk import, update, and export of data is part of core workflow. | |
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Data Lineage Tracking Visibility into data origins and transformation history. |
Data lineage and transformation tracking available for regulatory traceability. | |
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Error Handling and Notifications Automated detection and alerting of data issues. |
Error handling and exception notifications/alerts provided, including via UI and email. | |
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Stale Data Alerting Alerts when reference or market data is out-of-date. |
Alerting for stale/outdated data (reference/market) via dashboards and notification. | |
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Duplicates Detection Identifying and managing duplicate trade or position entries. |
Duplicate detection/flagging is available for trades and positions. | |
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Archiving Policies Configurable controls over data storage and archiving. |
Archiving/retention configurable for regulatory and client needs. | |
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Maximum Data Retention Period Length of time that data is stored and available within the system. |
No information available |
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Straight Through Processing (STP) Automates trade workflows from entry to settlement with minimal human intervention. |
Straight through processing from order entry to settlement is considered a feature of this OMS. | |
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Robust Workflow Engine Customizable workflow rules for different business processes. |
Customizable workflow engine for various asset classes and compliance requirements. | |
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Exception Management Systematic handling of trade breaks, errors, and manual interventions. |
Exception handling tools for trade breaks, errors, and intervention are included. | |
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Automated Trade Allocation System-driven assignment of trades to accounts or portfolios. |
Automated trade allocation to portfolio/account per client and mandate. | |
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Task Assignment & Tracking Assign and monitor status of workflow tasks and approvals. |
Task/approval assignment and tracking presented in UI features. | |
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Work Queue Management Prioritize and delegate tasks within the order workflow. |
Work queue management with real-time status and priorities. | |
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Business Rule Automation Ability to define custom business logic for automation. |
Supports automation of bespoke business rules for client workflow needs. | |
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Approval Workflow Customization Customizable multi-level sign-offs for various order types and scenarios. |
Approval workflow is customizable for multi-level sign-off scenarios. | |
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Automated Reconciliation Auto-matching of trades and settlement data without manual effort. |
Automated reconciliation of trades, positions, and settlement confirmed in offering. | |
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Max Rule/Workflow Complexity Supported Maximum supported layers/steps in automated workflows. |
No information available |
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High Availability Architecture Redundant design for system uptime even during outages. |
High-availability (HA), failover, and cloud/infrastructure options described. | |
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Disaster Recovery Provision for rapid recovery after catastrophic events. |
Disaster recovery/business continuity planning (DR/BCP) standards in place. | |
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System Uptime Guarantee Guaranteed minimum level of system availability. |
No information available | |
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Latency Average end-to-end response time for core operations. |
No information available | |
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Throughput Maximum number of orders or trades processed per unit time. |
No information available | |
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Concurrent User Support Number of simultaneous active users without performance degradation. |
No information available | |
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Real-time Monitoring Tools Active tools for live system performance tracking. |
System offers real-time monitoring dashboards for infrastructure, trading, and integration flows. | |
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Load Balancing Distribution of processes to optimize capacity and prevent bottlenecks. |
Load balancing support for high-volume trading and redundancy. | |
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Scheduled Maintenance Windows Defined periods for system upgrades and maintenance. |
Product documentation includes mention of scheduled/pre-notified maintenance windows. | |
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Time to Recovery (RTO) Maximum allowable downtime after an incident. |
No information available |
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Horizontal Scalability Add resources easily as demand grows, e.g., more servers. |
Horizontally scalable deployment (cloud/multi-instance) and cluster options available. | |
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Vertical Scalability Scale up by increasing system resources, e.g., CPU, memory. |
Can scale vertically as resource requirements increase (on-prem/cloud). | |
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Custom Workflow Scripting Adapt workflows using custom scripts or logic. |
Product allows custom scripting and extensible workflow logic, as per documentation. | |
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Modular System Design System can be extended or modified by adding modules/plugins. |
Modular design with add-on components/plugins is a key system feature. | |
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Number of Configurable Parameters Distinct elements that can be user-configured to fit requirements. |
No information available | |
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Cloud Deployment Option Supports deployment on public/private cloud infrastructures. |
Cloud deployments supported on major providers; in marketing and product docs. | |
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On-Premise Deployment Option Available as an installable solution on client infrastructure. |
On-prem deployments are available as a standard enterprise OMS option. | |
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Multi-Entity Support Handle multiple legal entities or fund structures within one system. |
Multi-entity/legal structure (fund, firm, region) support referenced in technical docs. | |
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Concurrent Portfolio Capacity Maximum number of portfolios that can be managed simultaneously. |
No information available | |
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Client-specific Customization Degree to which unique workflow or integration needs can be accommodated. |
Client-specific customization (workflow, screen, reporting, integration) available. |
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24/7 Support Availability Round-the-clock technical assistance for clients. |
24/7 support available for mission-critical clients, as indicated in SLA/service offering. | |
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Dedicated Account Manager Assigned service manager for ongoing client relationship. |
Dedicated account rep/manager assigned for each enterprise client. | |
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In-Product Help & Knowledge Base Accessible documentation, FAQs, and help resources within the product. |
Comprehensive product help, in-product resources, and knowledge base are accessible. | |
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Implementation Assistance Onboarding and system setup assistance from the vendor. |
Implementation/onboarding support available as per product site and sales materials. | |
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User Training Programs Formal training offerings and user education. |
User training for new and power users is a standard part of the offering. | |
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Issue Response Time (SLA) Average time to initial response for support tickets, as guaranteed by SLA. |
No information available | |
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Yearly System Updates Frequency of major product upgrades and enhancements. |
No information available | |
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Client Community/Forum Access Ability to interact with other clients and share feedback. |
Community forums, user groups, and customer events are available as per vendor's service model. | |
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Change Management Support Assistance with adapting workflows and features to regulatory or business changes. |
Vendor offers change management/adaptation assistance for business/regulatory changes. | |
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Comprehensive Service Level Agreement (SLA) A clearly defined agreement covering uptime, support levels, and issue response. |
Comprehensive SLA including uptime, support, resolution, and availability is provided to enterprise clients. |
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