Omgeo is planning to expand its matching activities from the equity and fixed income markets into repo, hedge funds and other new asset classes.
To spearhead the new strategy, it has hired John Burchenal from Thomson Tradeweb. Burchenal will serve as a member of Omgeo’s Executive Team, reporting to president and CEO Adam Bryan. He starts work on 1 August.
“I am pleased to be joining such a strong team at Omgeo,” says Burchenal. “Given the securities market’s appetite for trading in non-vanilla instruments, I am looking forward to helping Omgeo deliver solutions to the industry that will enable the back office to keep pace with front-office trading strategies.”
Omgeo says its expansion into new asset classes dates back three years to the launch of its fixed income initiative. That initiative consisted of the formation of a Client Working Group to provide a forum for cooperation with and feedback from users. Burchenal is charged with building on that to take the trade matching utility into a wider variety of instruments in need of grtetaer post-trade, pre-settlement efficiency.
Burchenal brings with him 18 years’ experience in product management, sales and business strategy. At Thomson Financial TradeWeb, he served as director of Straight-Through Processing Services and was responsible for AccountNet and TradeXpress. He also managed TradeWeb’s connectivity partnerships with third-party financial software providers. Previously, Burchenal held management positions at Citibank, DLJ and Lehman Brothers. He holds a B.A. in Economics from Trinity College in Hartford, Connecticut.
“As we continue to address feedback from clients regarding their pain points around trade processing, we have been steadily strengthening our commitment to promote greater efficiency in multiple asset classes,” says Adam Bryan. “We believe Mr. Burchenal’s experience and expertise in STP and post-trade processing across a broad array of asset classes will help us to accelerate this momentum. He is an excellent addition to Omgeo, and we look forward to leveraging his talents.”