Systems, apparatuses, and methods for maintaining separate pending load and store counters are disclosed herein. In one embodiment, a system includes at least one execution unit, a memory subsystem, and a pair of counters for each thread of execution. In one embodiment, the system implements a software based approach for managing dependencies between instructions. In one embodiment, the execution unit(s) maintains counters to support the software-based approach for managing dependencies between instructions. The execution unit(s) are configured to execute instructions that are used to manage the dependencies during run-time. In one embodiment, the execution unit(s) execute wait instructions to wait until a given counter is equal to a specified value before continuing to execute the instruction sequence.