Forefront Communications

REDI — The EMS Vendor Review: A Practical Guide to Vetting a Trading Platform’s Service and Support Organization

Sam Belden

Sam Belden

As trading platforms have evolved over the years, their features have grown in number and sophistication. With every technology advancement, regulatory change and market structure shift, new capabilities have emerged for traders to master. At the same time as this explosion in functionality, true integration with the rest of the trading stack has become a reality as well, allowing for a seamless flow of order information straight through the entire investment process.

While these new tools and technologies have resulted in clear efficiency benefits, they often come at a price: service. Many software providers treat support as an afterthought, resulting in high employee turnover and under-skilled staffers. This leaves users with myriad frustrations: increased onboarding times, inexperienced support desks and the inability to successfully tackle unique client issues, which not only impacts productivity, but adds business risk as well.

Many vendor reviews, however, focus almost exclusively on capabilities, technology and cost. Service and support are all too often an afterthought: that is, until it’s needed, when it becomes an extremely important component of the overall client/vendor relationship. In order to save some of the potential headaches that we’ve seen, we offer the following questions to consider when vetting a provider.

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