Credit Suisse is the first broker globally to go live on Omgeos central matching engine, Omgeo Central Trade Manager (Omgeo CTM).
Being live on Omgeo CTM will enable Credit Suisse to be one of the first broker/dealers to deliver central counterparty clearing of OTC equity transactions to the buy-side.
The implementation by Credit Suisse Securities (Europe) Limited of Omgeo CTM marks the beginning of the migration of Omgeos sell-side clients from electronic trade confirmation to central matching. There are another 13 early adopter broker/dealers that are currently in the process of making the transition from Omgeo OASYS Global, an electronic trade confirmation solution, to Omgeo CTM.
Leigh Walters, Executive Director, Global Sales and Head of EMEA, Omgeo said, Increasing the size of the broker/dealer community on Omgeo CTM is a big priority. Momentum from the brokers has been gathering pace and was recently boosted by the announcement that Omgeo CTM will be developed to provide a central counterparty service for the buy-side through a partnership with EuroCCP. Other drivers have included the restructuring of Omgeo CTM pricing with lower transaction fees.
He continued, Omgeo CTM is our flagship central matching offering and we remain dedicated to focusing resources on its future development.