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TS Imagine EMS from TS Imagine
Cloud-native, multi-asset EMS offering smart order routing, trade automation, best execution tools, compliance, and real-time risk analytics, integrated with upstream OMS and portfolio management tools.
Product analysis by function
Execution Management Systems (EMS) for Trading & Execution
Platforms that provide direct market access and sophisticated trading tools for optimal trade execution across multiple venues and asset classes. These systems offer advanced algorithmic trading capabilities, smart order routing, and real-time market analysis.
More Execution Management Systems (EMS)
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Order Management & Routing
(9 Yes /9 Known /10 Possible features)
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Multi-Asset Order Support Supports order entry and management for various asset classes (e.g. equities, fixed income, FX, derivatives, crypto). |
Product is described as multi-asset, supporting equities, fixed income, derivatives, FX, etc. per marketing materials and public documentation. | |
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Direct Market Access (DMA) Allows direct electronic access to trading exchanges and venues, bypassing intermediaries. |
DMA mentioned in solution overview presentations and via partnerships with various brokers and venues. | |
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Smart Order Routing Uses algorithms to route orders to the optimal execution venues based on configurable criteria. |
Smart order routing a core EMS feature, referenced in sales collateral and website feature list. | |
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Order Staging & Blotter Provides a staging area and comprehensive blotter to view, manage, and modify open orders. |
Order staging/blotter is standard in EMS/OMS workflow, and specified in product UI captures. | |
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Manual & Automated Order Entry Supports both manual input and bulk/automated order submission (e.g. via FIX, API). |
Manual and bulk (API, FIX) order entry specifically described in architecture and client references. | |
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Order Splitting & Allocation Allows splitting large orders into multiple child orders and allocating fills to client accounts or portfolios. |
Order splitting/allocation is expected for multi-account flow; referenced in user manuals. | |
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Pre-Trade Risk Checks Performs risk assessments (e.g., price limits, position limits) before allowing order submission. |
Pre-trade risk checks are emphasized in product compliance and risk analytics pitch. | |
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Order Amendment & Cancellation Permits modification and cancellation of orders post-entry but before execution. |
Order amend/cancel is required EMS/OMS function, described in UI documentation. | |
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Order Throttling Capacity Maximum number of orders that can be processed per second. |
No information available | |
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Order Status Tracking Live monitoring and updating of order status (e.g., open, filled, partial, cancelled). |
Order status tracking is standard and is visible in workflow demos and video tours. |
Execution Algorithms & Strategies
(9 Yes /9 Known /10 Possible features)
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Algorithmic Trading Support Supports built-in and third-party algorithms for order execution (VWAP, TWAP, POV, Arrival Price, etc.). |
Algorithmic trading support (VWAP, TWAP, participatory algos, etc.) is highlighted on the vendor website. | |
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Custom Algorithm Integration Allows users to integrate or develop proprietary trading algorithms. |
Custom algo integration referenced in developer documentation and API guides. | |
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Real-time Parameter Adjustment Permits live tuning of algo parameters (e.g., urgency, participation rate). |
Real-time parameter adjustment discussed in webinars and advanced algo configuration menus. | |
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Performance Backtesting Supports historical simulation or backtesting of execution strategies. |
Backtesting is outlined as an available feature in strategy analytics modules. | |
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Strategy Library Size The number of pre-built execution strategies available. |
No information available | |
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Venue Selection Algorithms Optimizes and dynamically selects best venues for order execution based on real-time data. |
Venue selection algorithms discussed as part of smart routing/execution page. | |
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Adaptive Algorithms Algorithms can adjust to changing market conditions automatically. |
Adaptive algorithms referenced in product roadmap and advanced trading tools section. | |
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Child Order Handling Manages and tracks the progress of orders split across multiple venues or time intervals. |
Child order handling is essential for smart order splitting/routing, confirmed in documentation. | |
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Passive & Aggressive Strategy Options Supports strategies that balance urgency and price improvement. |
Passive/aggressive strategy selection is an explicit option in algorithm configuration. | |
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Pre/Post-Trade Analytics Integration Algo performance reporting and TCA (Transaction Cost Analysis) integration. |
TCA and pre/post-trade analytics are a highlighted feature in EMS overview. |
Market Data Handling
(6 Yes /6 Known /10 Possible features)
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Low Latency Data Feeds Access to high-speed real-time market data necessary for efficient trade execution. |
Low latency market data is a competitive differentiator for the platform. | |
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Market Depth Visualization Displays Level 2/market depth from multiple venues. |
Market depth visualization shown in product screenshots and feature lists. | |
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Multi-Venue Data Aggregation Aggregates data from multiple exchanges, ECNs, and dark pools. |
Aggregation from multiple venues is supported, per multi-asset/multi-market positioning. | |
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Tick Data Storage Capacity Stores raw tick data for specified retention periods. |
No information available | |
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Historical Data Access Availability of extensive historical price and volume data for analysis. |
Historical data access called out as an analytic and backtesting tool in technical resources. | |
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Reference Data Integration Integrates securities master/reference data for all tradable instruments. |
Integration with reference data is standard for listed instruments, confirmed by vendor pages. | |
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Latency Monitoring Tools Provides monitoring and reporting on data feed latency. |
No information available | |
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Market Data Entitlement Controls Manages user and group rights for accessing proprietary market data feeds. |
No information available | |
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Event-Driven Alerts Configurable alerts based on price or market event triggers. |
Event-driven alerts are available and configurable for price, order, and risk events. | |
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Simulated Data Replay Playback of historical or test market data for system verification. |
No information available |
Connectivity & Integration
(9 Yes /9 Known /10 Possible features)
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FIX Protocol Support Supports standard FIX protocol versions for order, trade, and allocation messages. |
FIX protocol support is core to EMS/OMS functionality; confirmed by API and integration documentation. | |
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API Access Available RESTful, SOAP, and WebSocket APIs for integration and automation. |
REST and WebSocket APIs along with FIX are described for integration and automation. | |
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OMS/EMS Integration Seamlessly integrates with third-party and in-house Order Management Systems. |
Integration with OMS and portfolio management platforms highlighted as differentiator. | |
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Back Office Connectivity Can send allocations, trade confirms, and settlement data to the back-office systems. |
Back office connectivity described as standard for post-trade/settlement. | |
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Real-Time Data Sync Synchronizes order, trade, and position data with other platforms in real-time. |
Real-time data sync required for integration with upstream and downstream systems. | |
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Custom Adapter Framework Ability to build custom connectors to new venues, clients, or applications. |
Vendor provides custom adapter framework for new venues and bespoke connectivity. | |
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Cloud/On-Premise Deployment Supports both cloud-native and on-premise installations and hybrids. |
Cloud-native solution with some hybrid/on-premise support described in client deployment models. | |
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Latency of Order Routing Order transmission time to market venues. |
No information available | |
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Single Sign-On Support Integration with enterprise SSO solutions for user convenience and security. |
Single sign-on (SSO) is industry standard and confirmed in security features. | |
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Third-Party Analytics Integration Out-of-the-box integration with analytics providers for pre/post-trade analysis. |
Integration with third-party analytics, especially for TCA and compliance, described. |
Compliance & Regulatory
(7 Yes /7 Known /10 Possible features)
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Trade Surveillance Real-time monitoring for suspicious trading patterns and market abuse. |
Compliance and trade surveillance detailed as part of core offering. | |
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Audit Trail Immutable records of order and trade activity with user actions timestamped. |
Audit trail is required for regulation and provable in product datasheets. | |
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MiFID II / Reg NMS Support Built-in functionality to help comply with major regulations (recordkeeping, best execution, trade reporting, etc.). |
MiFID II, Reg NMS and similar regulatory compliance explicitly listed. | |
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Automated Reporting Creation and electronic submission of regulatory and compliance reports. |
Automated regulatory reporting is referenced in compliance capabilities. | |
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Trade Reconstruction Speed Ability to reconstruct order and trade events for compliance reviews within a given time. |
No information available | |
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Configurability of Compliance Rules Flexibility to define/adapt compliance rule sets to match firm/regulatory needs. |
Compliance rules are configurable for diverse regulatory environments. | |
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Sensitive Data Masking Conceals confidential data as required by privacy and compliance policies. |
Sensitive data masking is described in security documentation and data privacy pages. | |
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Surveillance Alert Volume Maximum number of compliance/surveillance alerts that can be processed per day. |
No information available | |
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Trade & Order Data Retention Duration for which transaction data is securely stored for audit purposes. |
No information available | |
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Certifiable Compliance Reports Ability to produce compliance reports acceptable to auditors/regulators. |
Certifiable/compliance reporting is promoted as a key output for audits/regulators. |
User Interface & Experience
(7 Yes /7 Known /10 Possible features)
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Customizable Dashboards Personalizable workspace layouts and widgets for different user roles and preferences. |
User dashboard customization and workspace personalization highlighted on UI pitch. | |
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Multi-Monitor Support Enables efficient use across multiple screens for power users. |
Referenced as a feature for power users (multi-window and multi-monitor support). | |
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Real-Time Visualizations Live graphical views of positions, executions, and market data. |
Live visualization of positions and executions referenced; screenshots available. | |
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Contextual Drill-Downs Allows users to click through from summary to detailed data and events. |
Contextual drill-downs available for workflow efficiency; demo videos confirm. | |
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Keyboard Shortcuts Productivity features for fast, hotkey-based navigation and actions. |
No information available | |
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Accessibility Features Support for accessibility standards and adaptive interfaces (e.g. for visually impaired users). |
No information available | |
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Configurable Alerts & Notifications Popups, emails, sounds, or SMS based on user-defined triggers. |
Alert and notification settings described in both user and operations guides. | |
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Language Localization Availability of user interface in multiple languages. |
Localization and multiple language packs discussed in rollout documentation. | |
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Mobile/Tablet Interface Responsive web/mobile apps for use on the go. |
Mobile/tablet web access available as part of cloud-native design. | |
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Concurrent User Capacity Maximum number of users that can access the system at the same time. |
No information available |
Risk Management
(8 Yes /8 Known /10 Possible features)
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Real-Time Position Monitoring Instant view of positions, P&L, and exposures across portfolios and desks. |
Real-time position, exposure, and P&L monitoring form core of risk analytics offering. | |
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Automated Limit Breach Alerts System generates alerts or blocks orders when risk or credit limits are breached. |
Limit breach detection and alerting are mentioned in real-time risk management. | |
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Pre-Trade Compliance Checks Ensures all orders are compliant prior to execution. |
Pre-trade compliance and policy checks are part of order management workflow. | |
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Intraday Margin Calculation Calculates and tracks margin requirements in real time. |
Intraday margin calculations referenced in fixed-income/derivatives module descriptions. | |
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VaR & Scenario Analysis Supports Value at Risk and scenario stress-testing tools. |
VaR and scenario/stress testing listed as available in risk analytics suite. | |
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Custom Risk Rules Engine Allows creation and adjustment of bespoke risk controls and policies. |
Rules engine for bespoke risk controls is referenced in developer documentation. | |
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Trade Limit Configurability Ability to set limits by user, desk, strategy, instrument, etc. |
Configurable trade limits highlighted for compliance/risk management. | |
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Risk Breach Notification Speed The average time taken to notify users of a limit breach. |
No information available | |
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Integrated Market & Credit Risk Analytics Unified analytics for both market and credit risk factors. |
Integration of market and credit risk analytics explicitly marketed. | |
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Intraday Exposure Calculation Frequency The frequency at which exposure is recalculated per account. |
No information available |
Transaction Cost Analysis (TCA) & Analytics
(8 Yes /8 Known /10 Possible features)
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Pre-Trade TCA Estimation and visualization of expected market impact and costs before order placement. |
Pre-trade TCA features called out for expected market impact estimation. | |
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Post-Trade TCA Detailed reporting of realized slippage, spread capture, and efficiency after execution. |
Post-trade TCA with slippage, venue analysis, and spread capture shown in analytics pages. | |
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Custom Benchmark Support Users can define custom benchmarks (e.g., VWAP, arrival price) for cost analysis. |
Custom benchmark support for VWAP, arrival price, etc. specified in TCA documentation. | |
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Peer Comparison Tools Compare trading performance against peers/industry benchmarks. |
Peer/benchmark comparison analytics available as part of performance tools. | |
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Execution Quality Analytics Measures price improvement, fill rates, and execution speed across venues. |
Execution quality analytics (fill rates, speed, price improvement) part of platform analytics. | |
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Real-Time Analytics Dashboard On-the-fly access to TCA metrics during trading. |
Real-time analytics dashboard integral to EMS TCA solution. | |
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Historical TCA Report Storage Retention of TCA reports for future compliance and review. |
No information available | |
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Configurable TCA Models Ability to augment or replace default TCA methodologies. |
Configurable TCA (cost models, parameters) described in advanced analytics guides. | |
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TCA Report Generation Time Average time to produce a detailed TCA report after trade completion. |
No information available | |
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Trade/Order Analytics Granularity Level of detail at which analytics are performed (e.g., per fill, per child order, per parent order). |
Analytics may be performed by order/fill/child order (granularity controls seen in UI). |
Security & Access Controls
(7 Yes /7 Known /10 Possible features)
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Role-Based Access Control (RBAC) Granular permission assignment to users, groups, or roles. |
Role-based access control documented in security/permissions features. | |
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Multi-Factor Authentication Supports two-factor or multi-factor authentication for enhanced login security. |
Multi-factor authentication detailed as an option for login security. | |
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End-to-End Data Encryption Data encrypted both at rest and in transit. |
End-to-end encryption (at rest and in transit) required/advertised for institutional clients. | |
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Single Sign-On (SSO) Integration Supports SSO with enterprise identity providers. |
SSO integration for enterprise identity providers confirmed in onboarding documentation. | |
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Fine-Grained Audit Logging Tracks login, order entry, changes, and administrative actions. |
Fine-grained audit logging described for all sensitive or regulatory events. | |
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API Authentication & Throttling Secures programmable access and enforces rate-limits. |
API authentication/throttling a required feature for scalable integrations. | |
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Data Leak Prevention Monitors and prevents unauthorized export or sharing of sensitive data. |
No information available | |
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Session Timeout Controls Automatic logoff or timeout after periods of inactivity. |
Session timeouts and user controls discussed as security features in user docs. | |
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Security Incident Notification Alerts designated users on detection of suspicious or unauthorized access. |
No information available | |
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User Provisioning Speed Average time required to fully provision a new user account. |
No information available |
Monitoring, Reporting & Auditing
(8 Yes /8 Known /10 Possible features)
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System Health Dashboard Live overview of platform status, job queues, and connectivity. |
System health and status dashboards included in operations/monitoring tools. | |
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Operational Reporting Pre-built and customizable reports for orders, trades, operations, and latency. |
Operational reporting described for orders, trades, system events. | |
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Trade & Order Audit Trails Complete logging of all trade/order activity for compliance and troubleshooting. |
Trade & order audit trails are part of compliance and troubleshooting. | |
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Alert Management Console Central location to view, triage, and respond to operational/system alerts. |
Central alert management console is referenced in product guides. | |
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System Up-Time Guarantee SLA-backed system availability commitments. |
No information available | |
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Automated Report Scheduling Configurable scheduled or recurring reports via email or dashboard. |
Automated (recurring/scheduled) reporting available for ops, compliance, and management. | |
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Custom Report Builder Visual or scripting tools to create and format bespoke reports. |
Custom report building tools offered for client-specific needs. | |
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Data Export Options Supported formats include CSV, XML, PDF, JSON, for easy offline review/analysis. |
Multiple export formats supported according to documentation (CSV, PDF, XML, JSON). | |
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Snapshot/End-of-Day Reporting Aggregated trade, position, and performance reports at market close. |
End-of-day/snapshot reporting highlighted for portfolio and trade activity. | |
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External Auditor Access Controls Limited, monitored access for third-party audit/review activities. |
No information available |
Support & Operational Considerations
(8 Yes /8 Known /10 Possible features)
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24/7 Technical Support Round-the-clock support for mission-critical trading operations. |
24/7 support referenced as an available service tier for critical operations. | |
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Knowledge Base & Documentation Comprehensive docs and training resources for users and IT staff. |
Comprehensive documentation and training resources public on vendor/partner site. | |
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Onboarding Time Average time to onboard a new client or trading desk. |
No information available | |
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User Training Programs Availability of live or online training and certification for users. |
Live and online training programs offered as part of onboarding. | |
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Disaster Recovery RTO Recovery Time Objective (RTO) for restoration in event of major outage. |
No information available | |
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Automated Failover System automatically switches to backup infrastructure on failure. |
Automated failover and disaster recovery are promoted for high-availability environments. | |
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Upgrade & Patch Management Process and tooling to manage software lifecycle with minimal downtime. |
Upgrade and patch management tools included per cloud-native support material. | |
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Service Level Agreement (SLA) Documented guarantees for uptime, support response, and other service metrics. |
SLA is available for uptime, support, and other operational metrics. | |
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Vendor/Third-Party Management Capabilities for handling vendor feeds, plugins, and integrations. |
Supports vendor/third-party plugin and API management according to connectivity guides. | |
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User Community Forums Active user or developer forums for peer-to-peer support and knowledge sharing. |
User and developer forums are referenced on the vendor website. |
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