OMGEO EXTENDS CENTRAL TRADE MANAGER TO BROKER-DEALERS

 

Posted June 16, 2009

 

NEW YORK – Trade processing, risk mitigation and operational services provider Omgeo LLC has made its Central Trade Manager (CTM) platform available to broker-dealers, signing 12 early-adopter brokers from different regions worldwide to use the platform.

 

The adopters, from the US, UK, Brazil, Canada, Spain, France and Korea, include Bank of America Merrill Lynch, Credit Suisse, Deutsche Bank and Newedge Europe.

 

“We see adoption of Omgeo CTM as a significant opportunity to partner with our clients to enhance straight-through processing,” says Geoff Mizen, Director, Integrated Client Management, Bank of America Merrill Lynch and co-Chair of Omgeo’s EMEA advisory board. “In particular, we are focused on getting as many trades as possible affirmed ready for settlement on trade date.”

 

Omgeo CTM provides a common platform where broker-dealers and investment managers can interact in both domestic and cross-border markets, enabling increased operational efficiency and exception-only processing.

 

“By being one of the first adopters of Omgeo CTM on the broker side, we are able to partner with Omgeo on development of the central matching product to manage trading risks in the most optimal way,” says Nick Morgan, Vice President, Securities Middle-Office, Bank of America Merrill Lynch.

 

Until now, sell-side clients wishing to leverage automated trade processing for cross-border and non-US trades used Omgeo OASYS Global, while buy-side clients used the central matching capabilities of Omgeo CTM. Extending access to broker-dealers will enable them to provide greater responsiveness and efficiency to their client base.

 

“Omgeo CTM is our flagship, trade-matching system to accommodate the dramatic, unprecedented increase in volume, broker take-up, geographic expansion, as well as support for new asset classes,” said Steve Matthews, Managing Director, Product, at Omgeo. “We have allocated extensive resources to Omgeo CTM, and these initiatives make up the largest single investment of our 2009 product strategy and beyond.”

 

   
     

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