Omgeo expands straight-through processing service

Omgeo, the global trade management services provider, said 17 firms had signed up to its global straight-through processing platform, Omgeo Central Trade Manager (CTM), a central matching product for domestic and cross-border trades.

The firms, which include Citigroup, Dresdner Kleinwort Wasserstein, Goldman Sachs, Lazard Asset Management and Morgan Stanley, will use the platform for real-time settlement instruction and notification messaging.

Data integrity and settlement efficiency are helped by the combination of industry codes of practice, plus local market standards. Investors using the new XML-based platform will still be able to process their global trades with brokers that continue to use CTM's predecessor, Oasys Global. Pricing for early adopters will be similar to current pricing on the Oasys Global system.

"Omgeo CTM is an appropriate solution for a firm like ours that deals with hundreds of different brokers all over the world," said John Riccardi, senior vice-president of Lazard Asset Management. "We can immediately gain the benefits of the latest cross-border straight-through processing technology, without losing access to those of our brokers who are operating in the Oasys Global environment."

Omgeo currently serves more than 1,200 brokers globally through its existing network of services. The firm is part-owned by the US Depository Trust & Clearing Corporation - the largest financial services post-trade infrastructure organisation in the world.

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Chartis RiskTech100® 2024

The latest iteration of the Chartis RiskTech100®, a comprehensive independent study of the world’s major players in risk and compliance technology, is acknowledged as the go-to for clear, accurate analysis of the risk technology marketplace. With its…

T+1: complacency before the storm?

This paper, created by WatersTechnology in association with Gresham Technologies, outlines what the move to T+1 (next-day settlement) of broker/dealer-executed trades in the US and Canadian markets means for buy-side and sell-side firms

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here