OMX Securities Limited has further enlarged its custody and clearing operations in the UK by adding all of the Lawshare Limited business to its existing client base. Lawshare is a provider of securities dealing and support services for fund managers.
Lawshare’s clients include fund management companies, accountants, private banks, independent financial advisers, stockbrokers, trust companies and pension funds. Lawshare has also been providing clients with collective investment support and international custody. These services will now be combined with OMX Securities Limited’s business.
“We are delighted to add the Lawshare business and client base to the OMX Securities Limited business to create an increased array of services for the UK market,” says Elizabeth Sipire, head of OMX Technology’s Banks & Brokers division. “OMX Securities Limited will now have over 70 clients across an array of brokers and other financial firms managing assets and providing brokerage services.”
OMX Securities Limited says the addition of Lawshare staff and the increased efficiency of the combined organisations will enable OMX to sustain its growth without compromising client service. Lawshare clients will benefit from access to an expanded range of services such as portfolio management, investment risk analysis, performance measurement and Capital Gains Tax reporting.
“We are delighted with the opportunities this presents for our clients to benefit from the efficiency and leading-edge technology OMX’s securities processing platform provides,” says Hans-Christian Iversen, Chairman, Lawshare Limited.
Final transfer is subject to FSA approval.
OMX Securities Limited aims to provide front-to-back office processing services to retail and institutional brokers in the UK market. The company is part of OMX Technology, a division of OMX, the Nordic stock exchange, clearing house and central securities depository group.
Since 1992, Lawshare Limited has provided clients with dealing; CREST Sponsorship; a platform for the dealing, settlement and custody of collective funds (FundService) and international custody.
Lawshare clients include fund management companies, private banks, independent financial advisers, accountants, trust companies and pension funds.