https://www.youngju.dev/blog 천천히 올바르게. AI Researcher & DevOps Engineer Youngju's tech blog. GPU/CUDA, LLM, MLOps, Kubernetes AI workloads, distributed training, and data engineering. ko fjvbn2003@gmail.com (Youngju Kim) fjvbn2003@gmail.com (Youngju Kim) Mon, 25 May 2026 00:00:00 GMT https://www.youngju.dev/blog/culture/2026-05-25-mifid-ii-best-execution-tca-bloomberg-virtu-tradeweb-ihs-markit-big-xyt-bmll-2026-deep-dive.en https://www.youngju.dev/blog/culture/2026-05-25-mifid-ii-best-execution-tca-bloomberg-virtu-tradeweb-ihs-markit-big-xyt-bmll-2026-deep-dive.en The 2026 EU/UK MiFID II/MiFIR best execution and TCA landscape - RTS 27/28 reporting, Bloomberg BTCA, Virtu Analytics, Tradeweb AiEX, IHS Markit Best-Ex, big xyt liquidity cockpit, BMLL Level 3 data, plus Koreas Capital Markets Act best execution rollout and Japans 2027 FIEA best execution mandate. Walks through Implementation Shortfall, VWAP slippage, dark vs lit routing with code. Mon, 25 May 2026 00:00:00 GMT fjvbn2003@gmail.com (Youngju Kim) mifid-iibest-executiontcarts-27rts-28bloomberg-btcavirtu-analyticstradewebihs-markitbig-xytbmllimplementation-shortfallvwap-slippagek-mifidkr-best-executionjp-financial-instruments-act https://www.youngju.dev/blog/culture/2026-05-25-mifid-ii-best-execution-tca-bloomberg-virtu-tradeweb-ihs-markit-big-xyt-bmll-2026-deep-dive.ja https://www.youngju.dev/blog/culture/2026-05-25-mifid-ii-best-execution-tca-bloomberg-virtu-tradeweb-ihs-markit-big-xyt-bmll-2026-deep-dive.ja 2026年のEU・UK MiFID II/MiFIR最良執行とTCAの全体像 — RTS 27/28報告、Bloomberg BTCA、Virtu Analytics、Tradeweb AiEX、IHS Markit Best-Ex、big xyt liquidity cockpit、BMLL Level 3データ、さらに韓国資本市場法の最良執行義務化と日本金商法の2027年義務化までを横断する。Implementation Shortfall、VWAP slippage、dark vs lit ルーティングをコード付きで解説。 Mon, 25 May 2026 00:00:00 GMT fjvbn2003@gmail.com (Youngju Kim) mifid-iibest-executiontcarts-27rts-28bloomberg-btcavirtu-analyticstradewebihs-markitbig-xytbmllimplementation-shortfallvwap-slippagek-mifidkr-best-executionjp-financial-instruments-act https://www.youngju.dev/blog/culture/2026-05-25-mifid-ii-best-execution-tca-bloomberg-virtu-tradeweb-ihs-markit-big-xyt-bmll-2026-deep-dive https://www.youngju.dev/blog/culture/2026-05-25-mifid-ii-best-execution-tca-bloomberg-virtu-tradeweb-ihs-markit-big-xyt-bmll-2026-deep-dive 2026년 EU·UK MiFID II/MiFIR 최선집행과 TCA 풍경 - RTS 27/28 보고, Bloomberg BTCA, Virtu Analytics, Tradeweb AiEX, IHS Markit Best-Ex, big xyt liquidity cockpit, BMLL Level 3 데이터, 그리고 한국 자본시장법 최선집행의무 시행과 일본 金商法 2027 best execution 의무화까지. Implementation Shortfall, VWAP slippage, dark vs lit 라우팅을 코드와 함께 다룹니다. Mon, 25 May 2026 00:00:00 GMT fjvbn2003@gmail.com (Youngju Kim) mifid-iibest-executiontcarts-27rts-28bloomberg-btcavirtu-analyticstradewebihs-markitbig-xytbmllimplementation-shortfallvwap-slippagek-mifidkr-best-executionjp-financial-instruments-act https://www.youngju.dev/blog/culture/2026-05-25-oems-bloomberg-aim-emsx-refinitiv-eikon-charles-river-factset-aladdin-2026-deep-dive.en https://www.youngju.dev/blog/culture/2026-05-25-oems-bloomberg-aim-emsx-refinitiv-eikon-charles-river-factset-aladdin-2026-deep-dive.en The combination of Order Management (OMS) and Execution Management (EMS) into OEMS is, in 2026, the nervous system of global asset management. This piece walks the full landscape: Bloomberg AIM/EMSX, Refinitiv Eikon/Workspace/AlphaDesk, Charles River IMS (State Street), FactSet PA, BlackRock Aladdin ($21T AUM), SS&C Eze, SimCorp Dimension, Flextrade, BNY Mellon Eagle — and the Korea/Japan side with Korea Investment eFriend Pro, Mirae Asset m.Stock Pro, Nomura Pro, Daiwa Capital, SBI Wholesale, MUFG. OMS vs EMS, FIX 4.x to 5.0 SP2, pre-trade compliance rule engines, basket trading, multi-asset (equity/FI/FX/derivatives/crypto), TCA integration, smart order routing (SOR), VWAP/TWAP/POV algorithms, dark pool routing, MiFID II RTS 27/28, K-MiFID best execution, and the JPX trading API — the state of the trading desk in 2026 in one place. Mon, 25 May 2026 00:00:00 GMT fjvbn2003@gmail.com (Youngju Kim) oemsbloomberg-terminalrefinitiv-eikoncharles-river-imsfactsetblackrock-aladdinssc-ezesimcorpflextradefix-protocolsmart-order-routingvwap-twapmifid-ii-rts28kr-best-execution https://www.youngju.dev/blog/culture/2026-05-25-oems-bloomberg-aim-emsx-refinitiv-eikon-charles-river-factset-aladdin-2026-deep-dive.ja https://www.youngju.dev/blog/culture/2026-05-25-oems-bloomberg-aim-emsx-refinitiv-eikon-charles-river-factset-aladdin-2026-deep-dive.ja 注文管理(OMS)と執行管理(EMS)を一体化したOEMSは、2026年のグローバル資産運用業の神経系である。Bloomberg AIM/EMSX、Refinitiv Eikon/Workspace/AlphaDesk、Charles River IMS(State Street)、FactSet PA、BlackRock Aladdin($21T AUM)、SS&C Eze、SimCorp Dimension、Flextrade、BNY Mellon Eagleを軸に、韓国の韓国投資証券 eFriend Pro、ミレアセット m.Stock Pro、そして日本の野村プロ、大和キャピタル、SBIホールセール、MUFGまで、東アジアのOEMSも一気通貫で整理する。OMS vs EMSの区分、FIX 4.x → 5.0 SP2のメッセージ、プリトレード・コンプライアンスのルールエンジン、バスケット取引、マルチアセット(株式/債券/FX/デリバティブ/暗号資産)、TCA統合、スマートオーダールーティング(SOR)、VWAP/TWAP/POVアルゴリズム、ダークプール・ルーティング、MiFID II RTS 27/28、K-MiFIDベストエグゼキューション、JPX取引APIまで、2026年のトレーディングデスクの現在地を一枚にまとめる。 Mon, 25 May 2026 00:00:00 GMT fjvbn2003@gmail.com (Youngju Kim) oemsbloomberg-terminalrefinitiv-eikoncharles-river-imsfactsetblackrock-aladdinssc-ezesimcorpflextradefix-protocolsmart-order-routingvwap-twapmifid-ii-rts28kr-best-execution https://www.youngju.dev/blog/culture/2026-05-25-oems-bloomberg-aim-emsx-refinitiv-eikon-charles-river-factset-aladdin-2026-deep-dive https://www.youngju.dev/blog/culture/2026-05-25-oems-bloomberg-aim-emsx-refinitiv-eikon-charles-river-factset-aladdin-2026-deep-dive 주문관리(OMS)와 실행관리(EMS)가 결합된 OEMS는 2026년 글로벌 자산운용업의 신경계다. Bloomberg AIM/EMSX, Refinitiv Eikon/Workspace/AlphaDesk, Charles River IMS(State Street), FactSet PA, BlackRock Aladdin($21T AUM), SS&C Eze, SimCorp Dimension, Flextrade, BNY Mellon Eagle까지 글로벌 빅텐과 한국투자증권 eFriend Pro, 미래에셋 m.Stock Pro, 노무라 Pro, 다이와 캐피털, SBI 홀세일까지 한일 OEMS를 한 줄로 꿰뚫는다. OMS vs EMS 구분, FIX 4.x → 5.0 SP2 메시지, 사전 컴플라이언스 룰엔진, 바스켓 트레이딩, 멀티에셋(주식/채권/FX/파생/크립토), TCA 통합, 스마트 오더 라우팅(SOR), VWAP/TWAP/POV 알고리즘, 다크풀 라우팅, MiFID II RTS 27/28, K-MiFID 베스트익스큐션, JPX 거래 API까지 2026년 트레이딩 데스크의 현재를 정리한다. Mon, 25 May 2026 00:00:00 GMT fjvbn2003@gmail.com (Youngju Kim) oemsbloomberg-terminalrefinitiv-eikoncharles-river-imsfactsetblackrock-aladdinssc-ezesimcorpflextradefix-protocolsmart-order-routingvwap-twapmifid-ii-rts28kr-best-execution