Capstone Minerva, the company’s order management system (OMS), now has a fully integrated execution management system (EMS) trading module designed for asset managers. LatentZero claims that the new system means 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, and 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.
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, commented Richard Jones, CEO of LatentZero.
The EMS is available as an add-on module to version 4.0 of Minerva – the current production release. LatentZero said that it will continue to support integration to third-party EMSs where customers see this as essential.
