Order Management System

Argo Order Management System and Smart Order Router

Argo OMS is a high-performance order management system that features FIX interfaces, order history database and order routing to multiple trading venues (exchanges, ECNs, ATS, dark pools, brokers, service bureaus). Architecturally, Argo OMS consists of several components (connectivity adapters, routing algorithms, order status notification facility) implemented as dynamic link libraries. Argo OMS is written on C++ for optimal performance and portability. Source code licenses are available.

Pre-Trade Risk Check

OMS can be integrated with Risk Management Server. Innovative inter-process communication mechanism provides real-time pre-trade risk check with virtually zero latency.

OMS-RMS tandem checks incoming order based on order originator account Risk Limit Profile:

• is the account active and allowed to trade?
• is the account allowed to trade particular instrument?
• is order size within allowed limits?
• is position size within allows limits (if order is executed)?
• if this is a short sell, is short sell allowed?
• does account have sufficient buying power for this order to be executed?
• is order limit price within allowed limits?

Trading Venue/Market Places Connectivity

We have accumulated decades of experience in building connectivity to trading venues. OMS comes with router adapters for many US and world exchanges, ECNs, brokers, dark pools, ATS and service bureaus including NYSE, NASDAQ, CME, ICE, Arca, Bats, Eurex, CBOT, LIFFE, MOEX, BitMEX, OKX, Binancr, TSE, Japannext, 4AX, Merrill Lynch, HotSpot, Currenex, IKON, EBS, CQG, Knight Equity Markets, Goldman Sachs’ Sigma, Citadel,  Argo own Matching Engine and many other trading venues,.

Smart Order Router and Smart Order Framework

OMS comes with integrated Smart Order Router (SOR) and Smart Order Framework (SOF). SOR is capable of connecting and sending orders to multiple market places simultaneously based on predefined and real-time adaptable routing rules. Smart Order Router can be integrated with market data feeds  including Argo own Market Data Dissemination system. SOF implements complexx and market data dependent order types (e.g. Iceberg, Pegged orders) for environments and trading venues that don’t supports such order types natively.

Fractional Trading

OMS works transparently with trading venues that support fractional trading including Argo own Matching Engine.

FIX

We’ve been earlier adopters of FIX technology, and went through several FIX integration projects with NYSE, NASDAQ, Arca, Bats,  CME, ICE, CQG, Sun Trading, NSE, MCX, MCX-SX, MOEX, BitMEX, Binance, TSE, Japannext, 4AX, Merrill Lynch, Knight, Goldman Sachs, Citadel and others. We have summarized our experience and built a generic FIX adapter, which allows us to reduce turnaround time for a new FIX-based communication link dramatically. You may refer to FIX Protocol LTD (FPL) official website to check if your broker (exchange, ECN, ATS) supports FIX.