Omgeo saw a 38% year-on-year increase in the number of investment managers and broker dealers using Omgeo Central Trade Manager (Omgeo CTM), its strategic platform for the central matching of cross-border and non-U.S. domestic equity and fixed income transactions.
The expanding Omgeo CTM community, where investment managers and broker dealers have access to the largest group of counterparties for central trade matching, now has over 950 clients worldwide. This growth includes the addition of 265 investment managers and broker dealers globally to Omgeos community of over 6,500 clients, which now spans across 50 countries. Omgeo has developed its core product over the past 12 months by investing in asset class expansion and growth in emerging markets including China, Chile and India.
Steve Matthews, COO at Omgeo, said: “Regulatory change and the evolution of the financial systems over the next 12 months will continue to focus market participants attention on risk management and cost efficiencies. As a result, we anticipate even greater central matching adoption on the buy and sell-side. Faster and more efficient confirmation of trades will become a higher priority for our clients as a result of European proposals for a mandated T+2 settlement cycle across the European markets, as well as the introduction of financial penalties for trades which fail to settle on time.”
(JDC)