The findings of this fifth edition of the sellside cash equities OEMS report series show that product offerings provided by independent, third-party technology vendors are entering a unique moment in their evolutionary history.
From the perspective of the overall health of the vendor-provided sellside cash equities OEMS business landscape in terms of product demand, the sellside industry’s capital or financial markets revenues earned from cash equities listed and OTC trading activities are now exhibiting overall signs of stability after a prolonged period of rebalancing following the onset of the 2008 financial crisis.
As such, from a technology perspective, a rebalancing of technology capabilities within the sellside industry away from the historical prerequisites of high-touch systems functionality and toward the algorithmic trading and automation-centric mandates of low-touch trading is occurring at a reasonable pace.
GreySpark believes that automated cash equities e-trading platforms – as opposed to only high-touch or only low-touch trading solutions – now represent the present and future focus of the global sellside industry’s technology estate within the cash equities trading space.
The survey questionnaire underpinning this report required the participating technology vendors to provide self-assessments of the breadth and depth of their sellside cash equities OEMS:
- across 33 instruments and products; and
- across 10 functional groupings and 222 granular functionalities.
This report reviews the functional capabilities of:
- ARQA Technologies QUIK OEMS (including QUIK, QORT and RISQ product lines);
- Horizon Software Horizon Platform for Automated Trading;
- ION Markets (ION Group) Fidessa;
- Iress Limited IRESS Order System;
- LIST S.p.A (ION Group) FastTrade MBP multi-asset OEMS; and
- Quod Financial The Quod Financial Adaptive Execution Platform (AEP).
