Centralize Your Trading Operations with TT® OMS
As shared in my last blog post about the new TT OMS, Disrupting the Order Management Landscape, TT is continuing to make enhancements to our order management offering. In this post, I want to share a relevant use case that leverages the various tools of the TT ecosystem with some of the order management basics.
Among the overwhelming interest in TT OMS, a common theme has formed around trading operations structured to centralize order flow through a single group or entity within a larger firm. These firms find themselves somewhere along a progression from internal voice brokerage to sophisticated tools to centralize, internalize and execute. It is common to find numerous different systems and trade entry screens in place, which presents challenges and inefficiencies. Consolidating a trading operation onto a single platform provides an array of opportunities.
TT OMS provides the necessary workflows to firms that have execution specialists who accept, manage and execute orders on behalf of traders in other parts of the business. Highly flexible setup can allow certain traders to enjoy DMA for products where they have expertise while sending other order flow to the execution desk where they don’t. What today can be a highly manual, inefficient and costly process can be facilitated through TT OMS workflows to ensure accuracy, confidence and transparency to all parties involved.
Preventing wash trading is a serious concern, with the only option across disparate systems being the exchange-supported cross-prevention mechanisms. Any trader knows the true cost of a reject inflicted by a cross-prevention mechanism. TT’s Position Transfer service instantly delivers internalized fills and removes the fear and pain associated with existing cross-prevention solutions. With all order flow centralized to a single platform, firms can be confident that they have effectively removed the wash trading risk, while traders enjoy a significantly improved experience without the need to even think or worry about damage inflicted by existing cross-prevention mechanisms.
Traders who operate on more than one exchange often rely on exchange screens for execution, which makes it nearly impossible to competitively trade similar products across exchanges. TT has a full suite of tools like Aggregator and Autospreader® to trade different markets side by side and instantly deliver best execution.
TT’s release of third-party execution tools is another piece of the solution which adds to the overall value proposition. When it comes to final execution, traders and execution specialists can leverage our growing suite of third-party tools in the search of best execution.
I could go on about the other benefits of consolidating all trading activity onto the TT platform from a single source of all audit trail activity, single-click access to company-wide surveillance, multi-broker access, and real time position and P&L monitoring. However, these are all topics discussed at length in other posts here on Trade Talk. What I am excited about is that we are currently engaged with clients and prospects who are learning the benefits of a centralized trading operation streamlined with TT OMS. If your trading environment is similar to the use case described above, I encourage you to contact our sales team so we can discuss the best solution for you.