Woodbine Associates has published a report examining the features, functionality and value proposition of 18 established trading solution providers and giving guidance on choosing the optimal solution for each particular need.

Intended to help buy- and sell-side firms implement an execution management system or select another provider, the study is an impartial guide on which EMS players are worth evaluating, what features differentiate them, and what EMS providers are doing to meet the evolving needs of the capital markets industry.
 
“Our intent is to provide trustworthy and actionable information to help the investment community make more informed decisions about trade management technology,” says Matt Samelson, Woodbine principal, equity market analyst, and primary author of the study. 
 
The report has four major sections that discuss overall industry characteristics and trends, specific criteria firms should consider when choosing an EMS provider, common solution characteristics, and individual features and reviews of the top solution providers.
 
Providers whose solutions are covered include: Bloomberg, Fidessa, FlexTrade, Goldman Sachs, InfoReach, Instinet, ITG, JP Morgan Securities, Knight Capital, Morgan Stanley, ORC Software, Portware, Sungard, Tethys Technology, Townsend Analytics (RealTick), Tradingscreen, UBS Securities, and UNX.