Understanding how LUSID's order management system works

You can use LUSID to action and/or record the order lifecycle, from order inception to execution and allocation. In LUSID, the order lifecycle consists of the following stages:

1. Order creation

2. Running pre-trade compliance

3. Blocking

4. Order placement

5. Executions (fills)

6. Allocation to portfolios and transaction booking

7. Generating holdings, performing valuations and rebalancing

Once allocated to portfolios, LUSID can automatically book transactions for orders, from which holdings and valuations can be calculated. If you decide to rebalance your portfolios from the valuation metrics, the order lifecycle can begin again automatically, with LUSID creating new orders for you.

LUSID's innate flexibility allows you to manage your placements and executions with execution management systems (EMS) and brokers in the way that works for you. You can leverage LUSID's array of integrations with EMSs and brokers to place and receive executions. 

You can currently use the following three kinds of integration to manage your orders, or alternatively use LUSID without integrations to manually record your order activity.

Using LUSID to stage orders in an EMS

LUSID has an array of EMS integrations to allow you to seamlessly create, run compliance on, place and receive fills for your orders. After rebalancing a portfolio, you can select which broker to place with via the EMS. 

See our supported integrations.

Using LUSID to place orders directly with a broker

You can hook LUSID up to and place orders directly with a broker of your choice and watch executions populate as your order is filled. When you use this method, LUSID can place the order with a broker for you and record executions as they happen.

See our supported integrations.

Creating orders externally and storing a record in LUSID via drop copy

If you prefer, you can create, place and receive executions for orders entirely outside of LUSID, but ensure a secure record is automatically generated and stored within LUSID whenever order activity occurs.

LUSID simply takes in a passive feed of Financial Information eXchange (FIX) messages and creates a copy of the activity. The execution information can then be used to allocate fills to portfolios, book transactions and generate holdings as usual.

See our supported integrations.

Using LUSID to manually record your order activity

You always have the option to use LUSID to manually record your orders. For example, you might use LUSID to record orders you've placed over the phone, or set up a schedule to load in orders, placements and executions from an Excel spreadsheet each day.