Omgeo CTM sees user increase
25 February 2014 New York
Image: Shutterstock
The user base of Omgeo Central Trade Manager (CTM) grew by 33 percent in 2013, with the addition of more than 150 broker-dealers and 280 investment managers.
The platform, which allows users to centrally match cross-border and domestic equity, fixed income, exchange traded derivative (futures and listed options) and contract for difference transactions, now boasts a user base of more than 1700 clients globally.
In 2013, total equity and fixed income volumes on Omgeo CTM also increased by 82 percent.
Post-trade services provider Omgeo attributes the user increase to 鈥済lobal market participants鈥� increased desire for automated, post-trade solutions that reduce risk and increase efficiency鈥�, as well as completion of a migration of clients from its legacy local trade confirmation service, Omgeo OASYS Global, to CTM.
More than 500 broker-dealers successfully migrated to Omgeo CTM during the multi-year migration that concluded in June 2013.
鈥淥mgeo CTM has been a key enabler of reduced risk and increased efficiency in post-trade operations at our firm,鈥� commented Dominic Janssens, director of global investment operations at T. Rowe Price Associates. 鈥淐entral matching has become viewed by the industry as the ideal method for the post-trade confirmation process.鈥�
Tim Keady, chief client officer at DTCC, which took full control of Omgeo after agreeing to acquire Thomson Reuters鈥檚 50 percent stake in the post-trade services provider in July 2013, said: 鈥淐ommunity growth continues to be a key priority because it increases post-trade efficiency for all Omgeo CTM users.鈥�
鈥淎 number of factors contributed to last year鈥檚 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.鈥�
鈥淢ore 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.鈥�
The platform, which allows users to centrally match cross-border and domestic equity, fixed income, exchange traded derivative (futures and listed options) and contract for difference transactions, now boasts a user base of more than 1700 clients globally.
In 2013, total equity and fixed income volumes on Omgeo CTM also increased by 82 percent.
Post-trade services provider Omgeo attributes the user increase to 鈥済lobal market participants鈥� increased desire for automated, post-trade solutions that reduce risk and increase efficiency鈥�, as well as completion of a migration of clients from its legacy local trade confirmation service, Omgeo OASYS Global, to CTM.
More than 500 broker-dealers successfully migrated to Omgeo CTM during the multi-year migration that concluded in June 2013.
鈥淥mgeo CTM has been a key enabler of reduced risk and increased efficiency in post-trade operations at our firm,鈥� commented Dominic Janssens, director of global investment operations at T. Rowe Price Associates. 鈥淐entral matching has become viewed by the industry as the ideal method for the post-trade confirmation process.鈥�
Tim Keady, chief client officer at DTCC, which took full control of Omgeo after agreeing to acquire Thomson Reuters鈥檚 50 percent stake in the post-trade services provider in July 2013, said: 鈥淐ommunity growth continues to be a key priority because it increases post-trade efficiency for all Omgeo CTM users.鈥�
鈥淎 number of factors contributed to last year鈥檚 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.鈥�
鈥淢ore 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.鈥�
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