Fresh Upgrades For Eze Software EMS

The Eze Software EMS ─ which has traditionally been branded as the RealTick EMS, but the company is moving away from that moniker ─ will now allow traders to receive targeted IOIs from brokers, according to the Boston-based vendor. The platform will standardize the IOIs and distribute them to traders at broker-targeted clients.

Bud Daleiden, managing director in product management, tells WatersTechnology that traders are in need of both displayed and non-displayed liquidity from a single EMS. Previously, traders would need separate systems and connections to view and trade IOIs, "which slows down the trading process and is not cost effective," he says. "Having a single, standardized feed of IOIs streamlines this process."

Through the addition of actionable IOIs, Eze can also provide more venues to trade on.

Borrowing Improvements, ACT Reporting

This latest rollout automates searching for and comparing rates directly from the EMS. Users can generate and send "locate requests" from the system's order-entry window to multiple counterparties, and then route their order for execution. "Users can select a rate and shares, and the ‘Locate ID' for the short sale is automatically added to the order and the user can quickly submit the trade," Daleiden says.

On the regulatory end, Eze Software has added additional support for ACT reporting of OTC trades. Previously, users were able to run ACT reports, but were limited only to "the sweep-and-cross workflow," Daleiden says. "Now, the system determines which securities require reporting, and which do not."

Next

For the future, the company will add enhancements to the Eze Software EMS for grouped/bundled orders, performance upgrades and functionality enhancements to the platform's "sell-side-oriented capabilities", but it's still too early for Daleiden to provide a more detailed layout of those upgrades.