Order Management System
INTRODUCTION What is an order management system ? Understanding an Order Management System (OMS)
A Trading Order Contain Key features of OMS About Brilliant Order Management Systems:
What is an order management system ? An order management system (OMS) is an electronic
system developed to execute securities orders in an efficient and cost-effective manner. Brokers and dealers use order management systems when filling orders for various types of securities and can track the progress of each order throughout the system. An OMS is also referred to as a "trade order management system."
Understanding an Order Management System (OMS) An order management system is a software system that facilitates and manages the execution of trade orders. In the financial markets, an order must be placed in a trading system to execute a buy or sell order for a security.
A trading order typically contains the following information: Security identifier Order type (buy, sell, or short) Order size Order type (e.g., market, limit, stop, etc.) Order instructions (e.g., day order, fill or kill, good-tillcancelled, etc.) Order transmission (broker, ECN, ATC, etc.)
Key features of order management system Order Management
Generate shipment label
Generate pick – list
Generate returns
Order tagging and custom status
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About Brilliant Order Management Systems: Brilliant WMS offers a cloud based order management system (OMS) to ease order/request via multiple platforms like ecommerce, mobile apps, order management portal and direct orders. The order management system is designed in order to provide easy integration with your existing warehouse management systems. Once the order is processed via Brilliant’s WMS or your existing WMS, an order confirmation is returned back to Order Management System (OMS).