LatentZero, the leading provider of front office systems for the buy-side, has today announced the launch of the first truly integrated order management and execution management system.
Capstone Minerva, the company's OMS, now has a fully integrated EMS trading module designed for asset managers. The new system means that buy-side traders no longer need to stage orders to third party EMSs, manage orders in two or more separate systems, or be hampered by inefficient, error-prone workflow.
Minerva's EMS module is completely broker neutral, with a high level of user configurability. It provides aggregated liquidity and instant access direct from the OMS blotter to DMA, broker algorithms, alternative trading systems, as well as broker care/principal orders. Support is provided for global markets for both single and list orders, including wave management, with real-time level 2 streaming data from Bloomberg, Reuters or broker-sponsored feeds.
The Minerva EMS also includes integrated pre-trade transaction cost estimates and related analytics from multiple brokers, as well as intra-day monitoring of execution quality versus benchmark.
The EMS module complements Minerva's proven strengths in position management, portfolio analysis, order generation, compliance, order routing, trade capture, commission management and trade confirmation for all asset classes. The comprehensive audit trail of all OMS activity and related market data provides compliance with buy-side MiFID requirements.
Richard Jones, CEO of LatentZero says: "We have been aware of the need for a truly integrated OMS and EMS for some time, and started working on this extension of Minerva more than eighteen months ago. Now that the market demand is there, we expect EMS functionality to become a standard and necessary feature of an OMS very rapidly.
"Minerva's real-time architecture, which overcomes the limitations of standard database technology, is able to handle very high transaction volumes and market data throughput in real-time, which is unique in the buy-side OMS space. We have worked with our key partners, the world's largest asset managers, to make sure that the system suupports fill volumes on the heaviest trading days. The same technology also means that Minerva can be implemented on a truly global basis, with no loss of performance in any location, enabling, for example, a US-based trader to execute European DMA or vice versa."
The EMS is available as an add-on module to version 4.0 of Minerva - the current production release. LatentZero will continue to support integration to third-party EMSs where customers see this as essential.