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Union ’ s philosophy , however , is not to provide a one-size-fits-all blanket execution system for all asset classes . While a highly complex cross-asset system would be difficult to use in a speedy manner , says Hock , a generic easy-to-use blanket system would not effectively deliver on a high enough percentage of orders received . “ Our clear message is that for the individual asset classes we prefer to add complexity by selecting the best-in-class system for each asset class rather than having a one-size-fits-all solution which just gets you a 70 to 80 % outcome ,” he says . “ For trading we ' ve decided to build on top of our Charles River order and execution management system where we needed , additional , specific infrastructure .”
The asset manager has one basic skeletal provider of portfolio management , trading and middle- and back-office , Charles River . This acts as a foundation for a combination of
“ Automisation is not about making less , but smart use of human traders .”
external execution management systems ( EMS ) and internally developed solutions to be added on top . In equities , for example , Union selected FlexTrade ’ s EMS as a bolt on for Charles River .
“ We had very specific requirements and we found that FlexTrade was the one vendor
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