{{Short description|Financial market trading system}} An '''Execution management system''', or '''EMS''', is an application utilized by traders designed to display market data and provide seamless and fast access to trading destinations for the purpose of transacting orders. This application contains broker provided and independent algorithms such as TWAP and VWAP, global market data and technology that is able to help predict certain market conditions.<ref name="safarik">Daniel Safarik, [http://www.financetech.com/featured/showArticle.jhtml?articleID=193005910 Execution Management Systems: From the Street and on the Block], ''financetech.com'', September, 2006</ref> One of the important features of EMS is the capacity to manage orders across multiple trading destinations such as stock exchanges, stock brokerage firms, crossing networks and electronic communication networks.
In addition to commercial vendors, a few open-source projects can be counted in as EMS, although their breadth varies.
==See also== *Algorithmic trading *Dark liquidity *Electronic trading platform *High-frequency trading *Order management system *Single-dealer platform
== References == {{reflist}}
==External links== *[https://web.archive.org/web/20100817210603/http://atmonitor.co.uk/ProviderDirectory/category.aspx?name=oms-and-ems-vendors Directory of EMS vendors] *[https://web.archive.org/web/20111002014915/http://www.thetradenews.com/operations-technology/trading-tools/6332 EMS Providers Jump Onto The Cloud] *[http://www.tradersmagazine.com/issues/24_321/ems-nangalia-woodbine-realtick-107422-1.html?pg=1 Converge and Diverge]
Category:Electronic trading systems