Caronte OMS

Caronte OMS is the Order Management System enabling automatic workflow management between Sales or Customers and Traders.

Caronte OMS

Caronte OMS is the all-in-one, Order Management System to execute orders coming from different channels, such as retail banks, Trading On Line (TOL), institutional customers, to over eighty financial markets, recording every stage of the process with a very broad set of functionalities.

Orders can be sent directly to the market (DMA), use algorithms, be evaluated by a Smart Order Router (SOR), or executed manually by traders.  

The SOR module is the MiFID compliant solution that ensures best execution for multi-listed instruments, through a combination of a weighting system and a rules mechanism. 

The order flow is managed automatically through several controls and routing rules. The system can automatically enrich order parameters and manage market phases, also providing Limbo function for routing orders not compatibles with the market status. It is possible to send Request for Quotes, IOIs or insert OTC trades manually. 

The system allows to control the status of each order and keeps track of all events.  

Middle Office functionalities provides the possibility to allocate trades to accounts and to send trade confirmations. 

Caronte OMS offers: 

  • automation of the Sales-Trader workflow;
  • care order management;
  • real time measurement of execution quality (benchmarking);
  • collection of care orders from different channels such as connected HUBS or CTS workstations;
  • support of OTC trading: management of RFQs and electronic reception of executions e.g. from Bloomberg;
  • limits control;
  • cross, dark-pool, bulk orders;
  • basket trading;
  • manual input of trades;
  • order routing rules: directly to the market or broker in DMA mode or to the trading desk;
  • retention of orders that are not compatible with the current market status and automatic routing to the destination e.g. in case of market phase management, trading halt or management of trading hours;
  • recycling of orders that are rejected or cancelled by the market or by the broker: in order to avoid a rejection or cancellation of the order, the system can try to resend it after some seconds or it can send it to the trading desk for manual trading;
  • management of GTD/GTC care orders with any time range (e.g. valid for one year);
  • dynamic Best Execution;
  • algorithmic trading; 
  • automatic elimination of expired orders;
  • allocation of trades to client accounts through;
  • reporting of trades with fees and commissions;
  • transaction reporting.