Omgeo CTM Community Grows by 33 Percent in 2013
Over 430 additional broker/dealers and investment managers join Omgeo’s post-trade central matching community
Omgeo CTM community growth has been attributed to global market participants’
“Omgeo CTM has been a key enabler of reduced risk and increased efficiency in post-trade operations at our firm,” stated Dominic Janssens, Director, Global Investment Operations at T. Rowe Price Associates. “Central matching has become viewed by the industry as the ideal method for the post-trade confirmation process.”
Tim Keady, Chief Client Officer at DTCC (Omgeo’s parent company), said: “Community growth continues to be a key priority because it increases post-trade efficiency for all Omgeo CTM users. A number of factors contributed to last year’s increase including our continued focus on strengthening our presence across Asia-Pacific and Latin America, as well as broadening our asset class coverage to include exchange-traded derivatives. We now have over 45 clients signed for ETD functionality.”
“More than ever before, firms are seeking to implement best practices across trading and post-trade operations, and regulatory and industry initiatives such as the move towards shorter settlement cycles continue to drive adoption of robust, automated processes. We expect this to continue in 2014.”
In Europe, a growing number of markets have agreed move to a settlement timeframe of T+2 on October 6 2014, ahead of the European Commission’s proposed deadline in January 2015. Market participants must act now to ensure they can complete all pre-settlement stages of the trade lifecycle, including trade affirmation, in a timely manner. Same-day affirmation (SDA), a key enabler of settlement efficiency, is best achieved on Omgeo CTM where rates average 94 percent, versus locally matched trades with rates ranging from just 36 percent in the U.S. domestic market to up to 72 percent for cross-border and non-US domestic transactions.
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Formed in 2001, Omgeo automates trade lifecycle events between investment managers, broker/dealers and custodian banks, enabling 6,500 clients and 80 technology partners in 52 countries around the world to seamlessly connect and interoperate. By automating and streamlining post-trade operations, Omgeo enables clients to accelerate the clearing and settlement of trades, and better manage and reduce their counterparty and credit risk. Omgeo’s strength lies within its global community and its ability to create solutions to enable clients to realize clear returns on their investment strategies, while responding to changing market and regulatory conditions. Across borders, asset classes, and trade lifecycles, Omgeo is the global standard for operational efficiency across the investment industry. Omgeo is a subsidiary of The Depository Trust & Clearing Corporation (DTCC). For more information, please visit www.omgeo.com.
About Omgeo CTM
Omgeo Central Trade Manager (Omgeo CTM) is our strategic platform for the central matching of cross-border and domestic equity, fixed income, exchange traded derivative (futures and listed options) and contract for difference transactions.
Eric Hazard, Articulate Communications
1-212-255-0080 x. 23