NEW YORK-Portfolio managers can buy all the algorithms they want, but ensuring best trade execution starts with investing in an order management system sophisticated enough to handle them, according to panelists at Financial Markets World's second annual "Buyside Technology Forum" here last week.

The problem is, while managers are quick to adopt programs that promise the fastest, cheapest trade, few have the tools to truly evaluate them because as their strategies change, their software systems do not, allowing valuable, analyzable, data to escape.

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