PT Schroder Investment Management Indonesia has gone live on Omgeo Central Trade Manager (Omgeo CTM), Omgeos domestic and cross-border central matching service for equity, fixed income, exchange traded derivatives (futures and listed options) and contract for difference trades.
PT Schroders is the largest investment manager in Indonesia with 212.0 billion under management as of Dec. 31, 2012. By utilizing Omgeo CTM in Indonesia, PT Schroders local operation is now aligned with Schroders global operating model, which also uses the central matching service in other markets.
Veronica Low, head of portfolio services in Asia-Pacific, said: As the largest investment manager in Indonesia, it is important that we take the lead in helping the industry move forward on automation as it minimizes risks when managers seek improvements to their operational throughputs. This is particularly important in the Indonesian market where the back office is constantly under pressure to report matched trades to the custodians within a very tight turnaround time for NAV calculation.
Low added: With most of our equity brokers now on Omgeo CTM, 95% of our equity trades are now achieving a straight-through process (STP). We will continue to work with our fixed income counterparties in the coming months to achieve similar STP rates for FI trades. We believe the operations team is now well placed to support future growth of PT Schroders business.
(JDC)