Omgeo, which provides post-trade, pre-settlement trade management services, has now made its database for SI maintenance and communication available on the Web for broker/dealers.
Omgeo ALERT is meant to reduce trade failure by enabling investment managers, brokers/dealers and custodian banks to automatically share SI data worldwide. The new Web interface enables trade counterparties to access SI data more easily, therefore encouraging ongoing maintenance of the data and improving the quality of settlement instructions.
“One of the largest challenges in the post-trade, pre-settlement environment has been the lack of a solution that makes the input and retrieval of quality settlement instruction data easy and readily available,” said Scott Knous, executive director of Omgeo’s settlement instruction business. “Omgeo ALERT via the Web is a direct response to that challenge and is just one of the many planned initiatives in our SI strategy.”
Omgeo ALERT via the Web retains all the existing functionality of the Omgeo ALERT workstation and will also afford counterparties the ability to reduce data maintenance costs, manage account settlements and distribute data directly from any computer with Internet Explorer 5.5 access or higher. There is no installation required, and users benefit from quick access, improved data integrity and speed for data entry, comprehensive online help and streamlined navigation.
“Omgeo remains dedicated to providing our community with solutions that address and resolve pain-points,” said Adam Bryan, president and CEO of Omgeo. “By providing clients with streamlined, easy-to-use access to Omgeo ALERT via the Web, we enable them to better maintain large masses of critical SI data.”