Omgeo has created a new link between Omgeo TradeSuite and the Depository Trust Company Inventory Management System. The pre-determined quantity (PDQ) link is expected to facilitate better automation by allowing late affirmed trades to be processed through Omgeo’s TradeSuite and then directly sent to DTC IMS. The new link also allows each affirmed trade to be sent directly to DTC’s IMS instead of waiting for the entire batch to be sent at the end of the day.
“Faster transmission of trade information after trade execution and/or matching results in improved settlement, which in turn means increased cost savings for the industry,” says Steve Matthews, managing director of product, Omgeo. “We are continually evaluating how to provide further benefits to our clients, be it through new solutions, or enhancements to products such as TradeSuite, which is an integral component of trade processing in the U.S.”