The Patsystems Synthetic Order Management System (SyOMS) provides a secure store and engine for managing synthetic and algorithmic order types. SyOMS takes away the overhead of managing synthetic orders from the front end application. It holds them until the appropriate trigger conditions are met and then releases them to the destination exchange.
Synthetic order types include Icebergs and Stop orders where the host exchange does not support these natively. SyOMS has a growing range of algorithmic order types, like Brackets, Protection orders and Trailing Stops to help the trader lock in profits and minimise trading losses. Timed Limit, Timed Market and Timed Stop orders are based on Coordinated Universal Time (UTC) to facilitate global coordination.
SyOMS sits within the core system and offers low-latency price feed and execution facilities to traders using these order types. The server infrastructure gives resilience and supportability. This brings huge benefit to environments where traders share a common order book, such as a Sales or Broker desk, or where Patsystems’ customers provide support for remote front-end users.