In general, all the current batch of Buy-side Order Management Systems (OMS) started out life as being a specialist in either equities or fixed income, with the ability to handle the other type to an acceptable level.
But now, the demand is high for systems that handle all types of assets, including OTC Derivatives and more exotic non-listed instruments.
How successful have these OMS vendors been, in terms of developing their systems to operate in a truly multi class environment? Do they still offer limited functionality in some cases, or have they now been stretched beyond their limits?
Is it actually possible to successfully develop multi-asset functionality within a specialist Equity or Fixed Income system or will the architecture just not allow it?
Will the vendors who in the past have specialised in the OTC market within the Banking and Broking arenas find more success as they turn to supplying to Asset Managers on the Buy-side?
Alternatively, rather than looking for this OMS 'Nirvana', are Asset Managers now resigned to using separate systems to satisfy their multi-asset requirements?
Additionally, are there regional factors to consider, as Asset Managers look for global OMS systems that will cover the mature UK, Europe and USA markets as well as the less mature markets in Asia?