Bloomberg AIM - Competitors and Alternatives

Are you considering Bloomberg AIM alternatives for your order management needs? This article provides an overview of some competitors to AIM, enabling you to assemble an informed shortlist for your decision.

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Limina IMS

The team behind Limina are a team of former asset managers. We’ve faced the challenges of selecting, implementing and using many different systems. As such, we’ve set out to be as helpful as possible to you, for example, when evaluating vendors.

Limina IMS is a web-based investment management software that is often a solid alternative to Bloomberg AIM. Since we’re biased when talking about ourselves, we will exclude Limina from this list. If you’d like to learn more about Limina, here are some resources that you might find helpful:

Buy-side system examples, from best of breed to front to back

Note: Vendor information in this article is based on company websites, industry publications and online review sites such as G2, Gartner, TrustRadius and Capterra. Such pages have been reviewed in June 2024 as a basis for this article.

About Bloomberg AIM

Bloomberg Asset and Investment Manager (AIM) is a multi-asset order management solution for the buy side. It provides a suite of capabilities for order raising, compliance, and post-trade processing.

AIM leverages the extensive market data and analytics available through the Bloomberg Terminal, providing them natively as part of order-raising workflow and compliance checks. The fact that AIM is embedded within the Bloomberg terminal is both one of its key strengths as well as weakness:

  • Strength
    Terminal users can leverage the market data entitlements they already have in the terminal at no additional cost.
  • Weakness
    Connectivity to external systems (e.g. execution systems) and data.

AIM integrates with other Bloomberg products (such as TCA & risk analytics), but such integrations are also possible for other OMSs - so it’s not a differentiator for AIM.

Best Bloomberg AIM Alternatives

Below are four competitors to Bloomberg AIM, listed in alphabetical order.

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Charles River IMS

Charles River Development (CRD) is a top-tier platform. Notable features of Charles River IMS include:

  1. Comprehensive order and execution management capabilities
  2. Compliance monitoring and portfolio management tools
  3. Trade connectivity

Charles River primarily serves large asset managers but also caters to mid-sized managers. The platform’s scalability and flexibility are among its key strengths.

Online reviews suggest that the implementation process can be challenging, which may be a potential weakness for some clients.

Timeline of Investment Management System launches

 

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Enfusion

Enfusion’s front-to-back-office software is a simple yet broad solution, initially built for hedge funds. The solution includes functionality from accounting to order management.

An advantage of Enfusion is streamlined workflows across front, middle, and back office functions. This is because all functions reside in one system, rather than scattered between multiple software.

The system’s core architecture is multi-tenant, which has the advantage of cost-efficient IT. The main disadvantage is that data isn't isolated between you and other investment managers (shared database).

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S&P Markit Thinkfolio

Thinkfolio, a portfolio management system (PMS) by S&P Markit, offers comprehensive capabilities for enhancing portfolio visibility and decision-making processes. While initially focused on fixed income, Thinkfolio has expanded to cover multiple asset classes.

In addition to its portfolio management functionalities, Thinkfolio also includes order management capabilities. This allows users to streamline their trading processes and efficiently execute investment strategies.

Thinkfolio has undergone significant changes in recent years. In 2014, Markit, a global financial information services provider, acquired it. Subsequently, in 2022, S&P Global completed its acquisition of Markit, bringing Thinkfolio under the S&P umbrella.

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SS&C Eze OMSs

Similar to Enfusion, Eze OMS was initially created to service hedge funds. One fundamental difference is its pure focus on order management and compliance. In that sense, it’s a narrower platform that is more comparable to Bloomberg AIM in scope than Enfusion.
Eze OMS has been integrated with realtick (Eze’s Execution Management System) and Eze PMA (Eze’s portfolio accounting system) to create the Eze Investment Suite.

In 2018, SS&C acquired Eze Software from TPG for $1.45 billion

 

Wrap up

Choosing the right order management software is a critical decision. Choosing the best one for you means operational efficiency gains for years to come.

An aspect we haven’t discussed is cost. There is more than one driver of cost, which we demystify in our cost reduction use case. True to our philosophy on transparency, Limina price examples are available on our website.

To learn more about how Limina can help drive more informed decisions in the Front Office, explore our use case on the topic. 

See Limina’s Solution in Action

 

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