The service bureau between the Korean Securities Depository (KSD), the central securities depository for South Korea, and Omgeo Central Trade ManagerSM (Omgeo CTM) is now live and Korea Investment Trust Company and ShinHan BNP Paribas Asset are processing trades. The strategic partnership between Omgeo and KSD allows the Korean investment community to achieve greater levels of operational efficiency and automation in trade processing.
Through the service bureau, KSD enables Korean investment managers to electronically confirm the accuracy of trade details with their counterparties around the globe and automatically enrich them with standing settlement instructions (SSIs). Omgeo CTM is a single platform for the central matching of fixed income and equity trade details. Omgeo ALERT is a Web-based global database for the maintenance and communication of standing settlement and account instructions.
Additionally, Korean investment managers are able to receive a Copy for Information of matched trade details from any interested third party. The KSD and domestic Korean investment managers have access to Omgeos global network of trade counterparties.
KSD is dedicated to transforming Korean cross-border trade processing into a role model of operational efficiency, says O Moon Kwon, managing director of deposit settlement service division of the Korean Securities Depository. Working closely with Omgeo, we are pleased to see our first clients live and already seeing reduced operational and counterparty risk through automation.
Todays global markets necessitate the utmost operational efficiency. KSD and Omgeo have partnered together to ensure operational risk mitigation for Korean investment managers through automation, says Tim Keady, managing director, global sales and relationship management for Omgeo. This will no doubt help enable the future growth and success of the Korean securities market.”
Omgeo maintains strategic partnerships with and links to securities depositories around the world, notably the Depository Trust & Clearing Corporation (DTCC) in the US (also one of Omgeos parent companies), the Canadian Depository for Securities (CDS) and the Japan Securities Depository Inc (JASDEC). In addition, Omgeo has entered discussions with the Brazilian Clearing and Depository Corporation (CBLC).
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