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[ S U R V E Y | E X E C U T I O N M A N A G E M E N T S Y S T E M S ] TradingScreen After a turbulent period, TradingScreen seems to be back as one of the leaders in the EMS industry. Reliability and Availability Response numbers were slightly lower than in 2016, Latency but even so the firm still accounted for the second highest number of client questionnaires. Once again Client Service Personnel the breadth of clients, whether by size, location or Ease-of-Use type was impressive. TS has always had a strong global Handling of New Versions/Releases footprint and will no doubt hope to grow its Euro- pean client base even further following the opening Breadth of Broker Algorithms of its Frankfurt office. At the same time, the hedge Timeliness of Updates for Broker Changes fund business in the UK and North America, which FIX Capabilities accounted for around 50% of TS responses, should benefit from new product offerings such as the award Breadth of Asset Class Coverage winning TSNEXT mobile capability as well as the Breadth of Direct Connections to Venues integration of OTAS analytics, and the further devel- Product Development opment of its fixed income capabilities. Interestingly only around three-quarters of respondents use TS Ease of Integration to Internal Systems for equities, among the lowest proportion within the Overall Cost of Operation Survey. TS along with Bloomberg also had the largest number of responses from smaller customers. TradingScreen Given the breadth of 2016 business and scale 2017 of responses, TS did extremely well to pretty much maintain the 6.08 5.91 level of scores at 2016 levels. The overall average was 5.66 unchanged down by 0.11 points but 5.76 still ranked fourth, from a year ago among 5.85 the profiled providers. 5.88 TS saw its best scores in the area of Reliability, for the second 5.93 5.85 year in succession and in line with overall Survey 5.56 results. It will be pleased to have seen 5.39 a small gain in the already good scores 5.83 for Client Service, 5.50 reflecting a performance well ahead of the Survey average. It is 5.75 5.55 also clear that respondents appreciate the breadth of 5.89 scores were 5.66 asset class coverage, where also higher than in 2016. Scores were however lower 5.74 5.78 in the area of FIX capabilities and also perhaps surprisingly given 5.64 5.65 the level of new product announcements, in Prod- 5.38 uct Development. Here 5.54 however, scores nonetheless remained well ahead of 5.73 the Survey average, 5.60 a position that TS achieved in 10 of the 13 categories covered in 5.49 5.46 the Survey. 6.08 5.91 Reliability and Availability 5.76 5.66 Latency Client Service Personnel 5.85 5.88 Ease-of-Use 5.93 5.85 5.56 5.39 Handling of New Versions/Releases Breadth of Broker Algorithms 5.75 5.55 Timeliness of Updates for Broker Changes 5.89 5.66 FIX Capabilities 5.74 5.78 Breadth of Asset Class Coverage 5.64 5.65 Breadth of Direct Connections to Venues 5.54 5.38 Product Development 5.73 5.60 Ease of Integration to Internal Systems 5.49 5.46 Overall Cost of Operation 0.00 1.00 2.00 2016 88 TheTrade 5.83 5.50 Autumn 2017 3.00 2017 4.00 5.00 6.00 7.00