My (outsiders) understanding has always been that WLM manages resources
for address spaces to attempt to ensure runnable tasks achieve their
goals - where sanely possible.
SRM is nowadays just a (sub-)component of WLM.
So I'd have to say WLM is doing it all.

CICS (and IMS apparently) are the exceptions - they appear to talk to
WLM but manage their "transactions" in-house. Everyone else (???) uses
WLM to handle their work via enclaves.
        
Shane ...

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