Order Management System (OMS)
An electronic system developed to execute securities orders in an efficient and cost-effective manner. Brokers and dealers use OMSs when filling orders for various types of securities and are able to track the progress of each order throughout the system. Investopedia Says:
OMSs are an important development in the securities industry because of the significant cost savings they provide to investment firms. Many versions of OMSs have been developed by various firms looking to capitalize on the increased spending made on these systems. Related Terms:
Broker
Broker-Dealer
Dealer
Order
Payment For Order Flow
Small Order Execution System - SOES
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