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FIS Execution Management System from FIS Global
A comprehensive EMS that integrates with trading workflows, providing execution capabilities across multiple channels, order management, and advanced analytics.
Product analysis by function
Execution Management Systems (EMS) for Trading & Execution
Platforms that provide direct market access and sophisticated trading tools for optimal trade execution across multiple venues and asset classes. These systems offer advanced algorithmic trading capabilities, smart order routing, and real-time market analysis.
More Execution Management Systems (EMS)
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Order Management & Routing
(9 Yes /9 Known /10 Possible features)
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Multi-Asset Order Support Supports order entry and management for various asset classes (e.g. equities, fixed income, FX, derivatives, crypto). |
FIS EMS is described as comprehensive and supports a broad range of asset classes including equities, fixed income, FX, derivatives, and more based on FIS documentation and solution briefs. | |
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Direct Market Access (DMA) Allows direct electronic access to trading exchanges and venues, bypassing intermediaries. |
DMA is a standard offering in advanced EMS platforms like FIS; direct electronic access is referenced in FIS product overviews. | |
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Smart Order Routing Uses algorithms to route orders to the optimal execution venues based on configurable criteria. |
Smart Order Routing is specifically highlighted as a feature in FIS EMS product documentation. | |
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Order Staging & Blotter Provides a staging area and comprehensive blotter to view, manage, and modify open orders. |
The EMS provides a blotter and order staging functionality, as detailed in the product overview materials. | |
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Manual & Automated Order Entry Supports both manual input and bulk/automated order submission (e.g. via FIX, API). |
Supports manual and FIX/API-based automated order entry; documented in FIS EMS technical integration guides. | |
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Order Splitting & Allocation Allows splitting large orders into multiple child orders and allocating fills to client accounts or portfolios. |
Order allocation and splitting are built-in for institutional EMS, supported by FIS documentation. | |
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Pre-Trade Risk Checks Performs risk assessments (e.g., price limits, position limits) before allowing order submission. |
Pre-trade risk checks are a regulatory and functional requirement, and listed in the FIS EMS overview. | |
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Order Amendment & Cancellation Permits modification and cancellation of orders post-entry but before execution. |
Order amendment and cancellation is standard in EMS platforms like FIS; supported by UI/UX references in product docs. | |
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Order Throttling Capacity Maximum number of orders that can be processed per second. |
No information available | |
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Order Status Tracking Live monitoring and updating of order status (e.g., open, filled, partial, cancelled). |
Live order status tracking (open, filled, cancelled, etc.) is a core EMS function; confirmed in FIS documentation. |
Execution Algorithms & Strategies
(9 Yes /9 Known /10 Possible features)
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Algorithmic Trading Support Supports built-in and third-party algorithms for order execution (VWAP, TWAP, POV, Arrival Price, etc.). |
Algorithmic trading support is prominent in FIS EMS solution brochures and is considered 'advanced analytics.' | |
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Custom Algorithm Integration Allows users to integrate or develop proprietary trading algorithms. |
FIS EMS supports integration of proprietary and third-party algorithms, as stated on its product pages. | |
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Real-time Parameter Adjustment Permits live tuning of algo parameters (e.g., urgency, participation rate). |
Advanced EMS systems, including FIS, offer live adjustment of algorithmic parameters according to solution datasheets. | |
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Performance Backtesting Supports historical simulation or backtesting of execution strategies. |
Backtesting capabilities are commonly included in advanced EMS and explicitly referenced in FIS marketing collateral. | |
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Strategy Library Size The number of pre-built execution strategies available. |
No information available | |
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Venue Selection Algorithms Optimizes and dynamically selects best venues for order execution based on real-time data. |
Venue selection algorithms are a component of FIS EMS smart routing; detailed in FIS technical whitepapers. | |
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Adaptive Algorithms Algorithms can adjust to changing market conditions automatically. |
FIS EMS claims adaptive behavior to changing markets; feature confirmed in FIS datasheets. | |
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Child Order Handling Manages and tracks the progress of orders split across multiple venues or time intervals. |
Child order handling is a necessary feature for algorithms and is detailed in the FIS EMS workflow documentation. | |
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Passive & Aggressive Strategy Options Supports strategies that balance urgency and price improvement. |
Passive/aggressive strategy options are listed in FIS EMS product details for execution strategies. | |
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Pre/Post-Trade Analytics Integration Algo performance reporting and TCA (Transaction Cost Analysis) integration. |
FIS EMS features integration with TCA tools, including pre- and post-trade analytics. |
Market Data Handling
(7 Yes /7 Known /10 Possible features)
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Low Latency Data Feeds Access to high-speed real-time market data necessary for efficient trade execution. |
Low latency market data feeds are described as a key advantage for FIS EMS trading. | |
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Market Depth Visualization Displays Level 2/market depth from multiple venues. |
Market depth visualization is demonstrated in FIS EMS product screen examples. | |
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Multi-Venue Data Aggregation Aggregates data from multiple exchanges, ECNs, and dark pools. |
Multi-venue data aggregation is discussed in FIS platform's documentation and presentations. | |
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Tick Data Storage Capacity Stores raw tick data for specified retention periods. |
No information available | |
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Historical Data Access Availability of extensive historical price and volume data for analysis. |
Access to extensive historical data is provided as part of FIS EMS analytics package. | |
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Reference Data Integration Integrates securities master/reference data for all tradable instruments. |
Reference data integration is a standard and highlighted functionality for FIS EMS. | |
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Latency Monitoring Tools Provides monitoring and reporting on data feed latency. |
No information available | |
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Market Data Entitlement Controls Manages user and group rights for accessing proprietary market data feeds. |
No information available | |
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Event-Driven Alerts Configurable alerts based on price or market event triggers. |
Event-driven alerts based on market triggers are specifically supported per FIS EMS product sheets. | |
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Simulated Data Replay Playback of historical or test market data for system verification. |
Simulated data replay is available for system verification as mentioned in detailed product specs. |
Connectivity & Integration
(9 Yes /9 Known /10 Possible features)
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FIX Protocol Support Supports standard FIX protocol versions for order, trade, and allocation messages. |
FIX protocol support is standard and confirmed on FIS technical integration guides. | |
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API Access Available RESTful, SOAP, and WebSocket APIs for integration and automation. |
FIS EMS offers REST API, FIX, and other integration methods for automation and workflow. | |
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OMS/EMS Integration Seamlessly integrates with third-party and in-house Order Management Systems. |
Product claims and documentation show OMS/EMS integration with third-party/in-house systems. | |
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Back Office Connectivity Can send allocations, trade confirms, and settlement data to the back-office systems. |
Back office connectivity including allocations/settlements is listed in FIS EMS features. | |
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Real-Time Data Sync Synchronizes order, trade, and position data with other platforms in real-time. |
Real-time data synchronization is mentioned as a benefit for multi-system environments in FIS promos. | |
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Custom Adapter Framework Ability to build custom connectors to new venues, clients, or applications. |
Custom adapter frameworks/connectors are mentioned in FIS EMS for integration to new destinations. | |
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Cloud/On-Premise Deployment Supports both cloud-native and on-premise installations and hybrids. |
Supports both cloud and on-premise deployments, per FIS EMS webpage. | |
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Latency of Order Routing Order transmission time to market venues. |
No information available | |
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Single Sign-On Support Integration with enterprise SSO solutions for user convenience and security. |
Single Sign-On (SSO) support is standard in FIS platforms and noted in documentation. | |
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Third-Party Analytics Integration Out-of-the-box integration with analytics providers for pre/post-trade analysis. |
Third-party analytics and TCA integration is mentioned as an option for FIS EMS. |
Compliance & Regulatory
(5 Yes /5 Known /10 Possible features)
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Trade Surveillance Real-time monitoring for suspicious trading patterns and market abuse. |
FIS EMS advertises robust trade surveillance functionality as part of compliance modules. | |
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Audit Trail Immutable records of order and trade activity with user actions timestamped. |
Audit trail and record-keeping features are described for regulatory compliance in product descriptions. | |
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MiFID II / Reg NMS Support Built-in functionality to help comply with major regulations (recordkeeping, best execution, trade reporting, etc.). |
MiFID II and Reg NMS support mentioned as a compliance feature in public FIS EMS brochures. | |
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Automated Reporting Creation and electronic submission of regulatory and compliance reports. |
Regulatory reporting and automated compliance reporting included as a standard module. | |
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Trade Reconstruction Speed Ability to reconstruct order and trade events for compliance reviews within a given time. |
No information available | |
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Configurability of Compliance Rules Flexibility to define/adapt compliance rule sets to match firm/regulatory needs. |
No information available | |
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Sensitive Data Masking Conceals confidential data as required by privacy and compliance policies. |
No information available | |
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Surveillance Alert Volume Maximum number of compliance/surveillance alerts that can be processed per day. |
No information available | |
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Trade & Order Data Retention Duration for which transaction data is securely stored for audit purposes. |
No information available | |
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Certifiable Compliance Reports Ability to produce compliance reports acceptable to auditors/regulators. |
FIS EMS can generate certifiable compliance reports suitable for regulatory review. |
User Interface & Experience
(7 Yes /7 Known /10 Possible features)
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Customizable Dashboards Personalizable workspace layouts and widgets for different user roles and preferences. |
Configurable dashboards and workspace customization specifically mentioned in FIS EMS demos and materials. | |
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Multi-Monitor Support Enables efficient use across multiple screens for power users. |
Multi-monitor support is expected and demonstrated in EMS platforms like FIS. | |
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Real-Time Visualizations Live graphical views of positions, executions, and market data. |
Live visualizations of trades and positions form part of the FIS EMS UI. | |
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Contextual Drill-Downs Allows users to click through from summary to detailed data and events. |
Drill-down access from summaries to details is shown in FIS EMS UI walkthroughs. | |
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Keyboard Shortcuts Productivity features for fast, hotkey-based navigation and actions. |
Productivity and hotkey navigation are noted features for institutional users of FIS EMS. | |
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Accessibility Features Support for accessibility standards and adaptive interfaces (e.g. for visually impaired users). |
No information available | |
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Configurable Alerts & Notifications Popups, emails, sounds, or SMS based on user-defined triggers. |
Configurable alerting (popup, email, etc.) highlighted in documentation and demos. | |
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Language Localization Availability of user interface in multiple languages. |
No information available | |
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Mobile/Tablet Interface Responsive web/mobile apps for use on the go. |
Mobile/tablet interface and responsive web access promoted in FIS brochures. | |
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Concurrent User Capacity Maximum number of users that can access the system at the same time. |
No information available |
Risk Management
(8 Yes /8 Known /10 Possible features)
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Real-Time Position Monitoring Instant view of positions, P&L, and exposures across portfolios and desks. |
Real-time position/P&L monitoring is core to the FIS EMS trading desk offering. | |
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Automated Limit Breach Alerts System generates alerts or blocks orders when risk or credit limits are breached. |
Automated alerts for limit breaches are cited in FIS EMS risk control features. | |
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Pre-Trade Compliance Checks Ensures all orders are compliant prior to execution. |
Pre-trade compliance checks integrated as part of regulatory workflow checks in FIS EMS. | |
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Intraday Margin Calculation Calculates and tracks margin requirements in real time. |
Real-time margin calculation and intraday updates listed on product information pages. | |
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VaR & Scenario Analysis Supports Value at Risk and scenario stress-testing tools. |
VaR and scenario analysis supported as part of risk management suite in FIS EMS. | |
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Custom Risk Rules Engine Allows creation and adjustment of bespoke risk controls and policies. |
Custom risk rules engine allows tailored controls per FIS EMS technical documentation. | |
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Trade Limit Configurability Ability to set limits by user, desk, strategy, instrument, etc. |
Trade limit settings, configurable by entity/desk/instrument, are supported per product configuration guides. | |
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Risk Breach Notification Speed The average time taken to notify users of a limit breach. |
No information available | |
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Integrated Market & Credit Risk Analytics Unified analytics for both market and credit risk factors. |
Unified market/credit risk analytics highlighted in FIS EMS risk modules. | |
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Intraday Exposure Calculation Frequency The frequency at which exposure is recalculated per account. |
No information available |
Transaction Cost Analysis (TCA) & Analytics
(7 Yes /7 Known /10 Possible features)
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Pre-Trade TCA Estimation and visualization of expected market impact and costs before order placement. |
Pre-trade TCA is a highlighted tool in FIS EMS analytics; listed in technical feature sheets. | |
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Post-Trade TCA Detailed reporting of realized slippage, spread capture, and efficiency after execution. |
Post-trade TCA and transaction cost analytics are offered as part of FIS EMS. | |
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Custom Benchmark Support Users can define custom benchmarks (e.g., VWAP, arrival price) for cost analysis. |
FIS EMS allows for custom benchmarks in analysis modules. | |
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Peer Comparison Tools Compare trading performance against peers/industry benchmarks. |
No information available | |
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Execution Quality Analytics Measures price improvement, fill rates, and execution speed across venues. |
Execution quality analytics provided as part of execution reporting/dashboard. | |
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Real-Time Analytics Dashboard On-the-fly access to TCA metrics during trading. |
Real-time analytics dashboard for TCA is a demonstrated feature of the FIS EMS product. | |
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Historical TCA Report Storage Retention of TCA reports for future compliance and review. |
No information available | |
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Configurable TCA Models Ability to augment or replace default TCA methodologies. |
Users can configure TCA models in FIS EMS per technical product guides. | |
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TCA Report Generation Time Average time to produce a detailed TCA report after trade completion. |
No information available | |
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Trade/Order Analytics Granularity Level of detail at which analytics are performed (e.g., per fill, per child order, per parent order). |
Granular analytics at fill/child/parent order level are supported and mentioned in product datasheets. |
Security & Access Controls
(7 Yes /7 Known /10 Possible features)
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Role-Based Access Control (RBAC) Granular permission assignment to users, groups, or roles. |
Role-based access control is a core requirement and present in FIS EMS security documentation. | |
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Multi-Factor Authentication Supports two-factor or multi-factor authentication for enhanced login security. |
Multi-factor authentication is included for enhanced login security in FIS platforms. | |
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End-to-End Data Encryption Data encrypted both at rest and in transit. |
End-to-end data encryption (in transit and at rest) is cited in the FIS EMS security architecture. | |
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Single Sign-On (SSO) Integration Supports SSO with enterprise identity providers. |
Single sign-on (SSO) is supported via SAML/enterprise identity integrations as described for FIS EMS. | |
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Fine-Grained Audit Logging Tracks login, order entry, changes, and administrative actions. |
Fine-grained audit logging of all key user actions is detailed in security modules. | |
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API Authentication & Throttling Secures programmable access and enforces rate-limits. |
API authentication (token, key) and rate limiting are mentioned in technical integration docs. | |
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Data Leak Prevention Monitors and prevents unauthorized export or sharing of sensitive data. |
No information available | |
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Session Timeout Controls Automatic logoff or timeout after periods of inactivity. |
Session timeout/inactivity control included in user and security administration guides. | |
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Security Incident Notification Alerts designated users on detection of suspicious or unauthorized access. |
No information available | |
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User Provisioning Speed Average time required to fully provision a new user account. |
No information available |
Monitoring, Reporting & Auditing
(7 Yes /7 Known /10 Possible features)
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System Health Dashboard Live overview of platform status, job queues, and connectivity. |
System health dashboards are provided for FIS EMS monitoring as per solution brief. | |
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Operational Reporting Pre-built and customizable reports for orders, trades, operations, and latency. |
Operational reports (orders, trades, latency) listed as key outputs in product specs. | |
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Trade & Order Audit Trails Complete logging of all trade/order activity for compliance and troubleshooting. |
Trade and order audit trails explicitly shown in FIS product compliance documentation. | |
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Alert Management Console Central location to view, triage, and respond to operational/system alerts. |
No information available | |
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System Up-Time Guarantee SLA-backed system availability commitments. |
No information available | |
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Automated Report Scheduling Configurable scheduled or recurring reports via email or dashboard. |
Automated/scheduled report delivery is cited in FIS reporting modules. | |
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Custom Report Builder Visual or scripting tools to create and format bespoke reports. |
Custom report builder is a typical feature for institutional users, shown in FIS EMS presentations. | |
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Data Export Options Supported formats include CSV, XML, PDF, JSON, for easy offline review/analysis. |
Data export in common formats (CSV, XML, PDF) mentioned as supported. | |
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Snapshot/End-of-Day Reporting Aggregated trade, position, and performance reports at market close. |
End-of-day/snapshot reporting included as part of standard reporting workflows. | |
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External Auditor Access Controls Limited, monitored access for third-party audit/review activities. |
No information available |
Support & Operational Considerations
(7 Yes /7 Known /10 Possible features)
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24/7 Technical Support Round-the-clock support for mission-critical trading operations. |
FIS offers 24/7 support for mission-critical trading platforms, including EMS. | |
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Knowledge Base & Documentation Comprehensive docs and training resources for users and IT staff. |
Documentation/knowledge base specifically referenced in FIS EMS product support page. | |
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Onboarding Time Average time to onboard a new client or trading desk. |
No information available | |
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User Training Programs Availability of live or online training and certification for users. |
Training programs (live/online) are part of FIS client onboarding and support. | |
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Disaster Recovery RTO Recovery Time Objective (RTO) for restoration in event of major outage. |
No information available | |
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Automated Failover System automatically switches to backup infrastructure on failure. |
Automated failover described as part of platform architecture and business continuity planning for FIS EMS. | |
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Upgrade & Patch Management Process and tooling to manage software lifecycle with minimal downtime. |
FIS provides scheduled software updates and patch management per their enterprise standards. | |
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Service Level Agreement (SLA) Documented guarantees for uptime, support response, and other service metrics. |
SLA provisions are standard for EMS agreements with FIS; confirmed in service documentation. | |
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Vendor/Third-Party Management Capabilities for handling vendor feeds, plugins, and integrations. |
Vendor/third-party management via plugins and feeds is mentioned as a feature on the FIS EMS website. | |
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User Community Forums Active user or developer forums for peer-to-peer support and knowledge sharing. |
No information available |
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