The Dulin Report

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On the role of Distinguished Engineer and CTO Mindset Apr 27, 2025 The future is bright Mar 30, 2025 2024 Reflections Dec 31, 2024 Working from home works as well as any distributed team Nov 25, 2022 Good developers can pick up new programming languages Jun 3, 2022 In most cases, there is no need for NoSQL Apr 18, 2022 Kitchen table conversations Nov 7, 2021 Returning security back to the user Feb 2, 2019 Let’s talk cloud neutrality Sep 17, 2018 What does a Chief Software Architect do? Jun 23, 2018 Leaving Facebook and Twitter: here are the alternatives Mar 25, 2018 When politics and technology intersect Mar 24, 2018 Nobody wants your app Aug 2, 2017 The technology publishing industry needs to transform in order to survive Jun 30, 2017 Rather than innovating Walmart bullies their tech vendors to leave AWS Jun 27, 2017 I tried an Apple Watch for two days and I hated it Mar 30, 2017 Copyright in the 21st century or how "IT Gurus of Atlanta" plagiarized my and other's articles Mar 21, 2017 Emails, politics, and common sense Jan 14, 2017 Here is to a great 2017! Dec 26, 2016 What I learned from using Amazon Alexa for a month Sep 7, 2016 Amazon Alexa is eating the retailers alive Jun 22, 2016 In Support Of Gary Johnson Jun 13, 2016 Why it makes perfect sense for Dropbox to leave AWS May 7, 2016 JEE in the cloud era: building application servers Apr 22, 2016 In memory of Ed Yourdon Jan 23, 2016 Operations costs are the Achille's heel of NoSQL Nov 23, 2015 Banking Technology is in Dire Need of Standartization and Openness Sep 28, 2015 I Stand With Ahmed Sep 19, 2015 Top Ten Differences Between ActiveMQ and Amazon SQS Sep 5, 2015 What Every College Computer Science Freshman Should Know Aug 14, 2015 On Maintaining Personal Brand as a Software Engineer Aug 2, 2015 Social Media Detox Jul 11, 2015 The Three Myths About JavaScript Simplicity Jul 10, 2015 Your IT Department's Kodak Moment Jun 17, 2015 Big Data is not all about Hadoop May 30, 2015 Smart IT Departments Own Their Business API and Take Ownership of Data Governance May 13, 2015 Building a Supercomputer in AWS: Is it even worth it ? Apr 13, 2015 Microsoft and Apple Have Everything to Lose if Chromebooks Succeed Mar 31, 2015 Why I am Tempted to Replace Cassandra With DynamoDB Nov 13, 2014 Software Engineering and Domain Area Expertise Nov 7, 2014 Docker can fundamentally change how you think of server deployments Aug 26, 2014 Wall St. wakes up to underinvestment in OMS Aug 21, 2014 "Hello, World!" Using Apache Thrift Feb 24, 2013 Thoughts on Wall Street Technology Aug 11, 2012 Happy New Year! Jan 1, 2012 Eminence Grise: A trusted advisor May 13, 2009

Wall St. wakes up to underinvestment in OMS

August 21, 2014

Sell-side is waking up to the impact of underinvestment in OMS technology.

Consider the headlines in "Trader's Magazine":

EXCLUSIVE: Up-to-Date OMS Is a Necessity in Today's Trading Markets:

Since 2008, however, budgets have tightened, many large-scale IT expansion projects have been put on hold, and an operational culture of "doing more with less" has taken root. As a result, according to TABB Group, 75 percent of private wealth brokers and 66 percent of regional investment banks are still postponing upgrades to their equity OMS technology for at least another two years. The same goes for more than a quarter of global investment banks and more than 40 percent of boutique sellside firms.

or this: TABB Group Research Reveals Urgent Need for Sellside Investment in OMS :

That's the opinion of Tabb Group, who via SunGard, a technology provider (including OMSs), has released a new research report that reveals both large and small investment banks and brokers are sacrificing OMS functionality in exchange for aggressive cost cutting. Brokers have been cutting costs in recent years thanks to the drop in U.S. equity commissions over the last five years, which has also included staff.

Sell-side firms, in a misguided attempt to consider their OMS systems feature complete and in maintenance mode cut their OMS development teams to just skeleton crews. Underinvestment didn't just impact development teams. Testing teams were cut and eliminated, business analysts were let go, run time controls were not implemented, etc. Even after the August 2012 disaster at Knight Capital it still took two full years for Traders Magazine to acknowledge the problem.

Software rots if not maintained is the reality of the situation. When management declares a system "in maintenance mode" and cuts staff it is often the brightest members of the team that move on. Meanwhile the operating systems, the JVM, evolve, but your software rots. Your enterprise users grumble and continue using it, but even they might start defecting to competitors that actually value their IT. So don't declare your system to be "in maintenance mode" - unless you are prepared to declare your business to be in that mode as well.