[ 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 ]
TS Imagine
TS Imagine ’ s TradeSmart is a global EMS covering equities , ETFs , fixed income , FX , listed and OTC derivatives and digital assets . The company says it is enthused with the response following the launch of its TS One offering last year , which it also noted was a very important development for the company . Targeted at emerging hedge funds , TS One was designed to bring together the combined risk and portfolio analytics strengths of the legacy Imagine Software with the order and execution management capabilities of the legacy TradingScreen . Another significant development in recent months has been the fusion of TS Imagine ’ s fully embedded data provision model across the two business units with the roll out of LSEG Refinitiv ’ s DM1 service . Elsewhere , in November , TS Imagine announced a new module within TradeSmart OEMS and TS One which enhances best execution compliance and reporting , alongside providing traders with a view of their trading activity , real-time comment capture and best execution reporting in one dashboard . This was followed by the addition of 7 Chord ’ s BondDroid AI within its TradeSmart EMS in June . As of late , TS Imagine has around 300 buy-side clients using its TradeSmart EMS , 48 of which responded to
this year ’ s survey .
TS Imagine ’ s TradeSmart recorded an overall score of 5.79 in this year ’ s survey , a drop from its 2023 score of 6.02 . However , despite the drop in its overall score , TradeSmart still outperformed the category average in a few key functional areas reviewed in the 2024 survey . Its most significant areas of outperformance , relative to the overall industry , were client service personnel (+ 0.17 ) and ease-of-use (+ 0.10 ).
In a year-over-year comparison , TS Imagine recorded decreases in most areas under review , the most notable being breadth of broker algorithms ( -0.51 ) and breadth of asset class coverage ( -0.40 ). These declines unfortunately overshadowed the providers gains seen in client service personnel (+ 0.14 ) and ease-of-use (+ 0.10 ).
Buy-side clients of TS Imagine ’ s TradeSmart in this year ’ s survey had a few additional capabilities they wished TradeSmart provided , such as new issue order workflow , an easier upgrade process , improved market data , a live summary of daily execution orders , and improved tech support . On the other hand , some clients took the opportunity to praise their provider , with one client noting “ All good ! TS Imagine works well !”.
TS IMAGINE RATINGS FOR EMS PERFORMANCE
Reliability and availability |
Latency |
Client service personnel |
Ease-ofuse |
Handling of new versions / releases |
Breadth of broker algorithms |
Timeliness of updates for broker changes |
FIX capabilities |
6.32 6.09 6.18 5.99 5.59 5.74 5.81 5.97
Breadth of asset class coverage |
Breadth of direct connections to venues |
Product development |
Ease of integration to internal systems |
Overall cost of operation |
Average score |
5.67 5.72 5.47 5.60 5.10 5.79
KEY STATS Category Outperformer : X2
6.32
Highest score ( reliability and availability )
5.10
Lowest score ( overall cost of operation )
+ 0.14
Most improved ( client service personnel )
-0.51
Least improved ( breadth of broker algorithms )
Issue 81 // thetradenews . com // 93