HelioGraph, the straight through processing (STP) and financial messaging specialist announced today that it had successfully completed first-stage testing of the connectivity module between its STP platform, Helio TradeFlow, and Omgeo’s central matching solution, Omgeo CTM.
Thecompany says the success means HelioGraph clients can enjoy a seamless migration path to the VMUs. Many existing ETC systems require dial-up connections which can take minutes or longer to access that information.
Working on behalf of Boston-based fund manager MFS Investment Management, HelioGraph successfully sent and received trade matching messages from the Omgeo CTM test server using its STP platform, Helio TradeFlow. The test messages were sent in early July 2002. MFS plans to go live with its Omgeo CTM-enabled solution sometime in early 2003.
MFS will use HelioGraph’s STP platform, TradeFlow, to connect to Omgeo CTM and possibly to other central matching utilities as well. TradeFlow also provides local trade matching, sophisticated exception handling and dynamic SSI management. TradeFlow will therefore process any transaction, regardless of instrument type or whether the trade is matched locally, by Omgeo CTM or by another central matching utility. As such, TradeFlow offers its users the advantage of consolidated control over all of their transactions.
HelioGraph is working with MFS to develop business rules and technical infrastructure to enable fast and robust securities trading using Omgeo CTM. MFS already uses HelioGraph technology to automatically enrich and generate ISO 15022 settlement messages for its custodians and the firm has also licensed HelioGraph’s event corporate actions automation solution. MFS is one of only eight fund managers participating in Omgeo’s Early Adopter Programme, and HelioGraph is one of a handful of vendors in the programme.
“Using our technology MFS was one of the first fund managers to be ISO 15022 – ready” said Amery Thomas, CEO of HelioGraph. “Now, we’re delighted to be able to provide MFS and the rest of our clients with access to Omgeo CTM. By adding this connectivity to our existing component-based single architecture, we are able to offer our clients an extremely cost-effective and painless migration path to this exciting new central matching utility.”