DTCC Completes Omgeo Acquisition

The Depository Trust & Clearing Corporation (DTCC) has completed its 100% acquisition of Omgeo.

The DTCC bought out the remaining 50% stake in Omgeo that it did not own from Thomson Reuters in July, making it the sole owner of the company.

Prior to the transaction, DTCC and Thomson Reuters served as equal owners and strategic partners in Omgeo since its formation in 2001 and throughout its growth and expansion over the years, which included the introduction of a fully integrated straight-through-processing (STP) solution for institutional post-trade processing, linking an electronic allocation engine, a central matching solution and the leading account and standing settlement instruction (SSI) database. Thomson Reuters will continue as a key service provider to and partner with Omgeo.

By leveraging both companies’ capabilities under a unified strategy, the acquisition enables DTCC to further expand its global footprint, advance service innovation and reduce risks and costs in post-trade processing. With the addition of Omgeo, DTCC now has offices in 14 countries worldwide.

With the closing of this transaction, Omgeo becomes part of DTCC’s portfolio of businesses. Marianne Brown continues to serve as President and Chief Executive Officer for Omgeo, reporting to Michael Bodson, DTCC President and Chief Executive Officer. The Omgeo subsidiary will continue to be overseen by the Omgeo Board of Managers, which is the governing body comprised of mostly industry representatives.