TY - JOUR T1 - Managing Liquidity: <em>The OEMS Debate</em> JF - Trading SP - 50 LP - 53 VL - 2011 IS - 1 AU - Ian Doull Y1 - 2011/03/20 UR - http://guides.pm-research.com/content/2011/1/50.abstract N2 - One of the controversial debates among traders and investment IT professionals today revolves around the concept of OEMS: whether to use a single integrated Order and Execution Management System vs. a separate Order Management System (OMS) and Execution Management System (EMS).Are they best left separate or can a unified system optimize results for buy-side firms requiring typical OMS and EMS functionality? Can this approach really help firms respond to pressures caused by changes in market structure, increased regulation, and evolving automated trading strategies? Are concerns surrounding speed, cost, data, and access to trading destinations valid? This article reviews the pros and cons and debunks the three most often cited areas of debate for having separate systems:1) you can’t accomplish OMS and EMS functionality in one platform, 2) an OEMS is not scalable enough or real-time market data enabled, and 3) there are no substantial trading issues with keeping an OMS and EMS separate. ER -