Radianz is to offer clients it has in common with Omgeo an additional connectivity option that will make it easier to access the Omgeo Central Trade Manager (Omgeo CTM), the central trade matching engine Omgeo is struggling to persuade fund managers to adopt. The Radianz connection is currently planned for availability by year-end.
Under the agreement, Omgeo will use the Radianz shared market infrastructure platform as an alternative delivery mechanism for Omgeo CTM. In addition to matching trade details, Omgeo CTM also provides exception-only processing, real-time settlement instruction enrichment and automated settlement notification messaging to the global securities industry. As a member of the Omgeo STP Partners Program, Radianz and Omgeo are also exploring the possibility of additional interfaces to other Omgeo services.
“As the need to create greater operational efficiencies continues to grow across the industry, we recognized the importance of offering a variety of ways for clients to access Omgeo CTM,” says Kathy Ball-Toncic, Executive Director, Global STP Partners Program at Omgeo. “Through Radianz’s shared connectivity platform, our clients will have the opportunity to access Omgeo CTM along with a variety of other services and counterparties they need to reach over a single resilient connection.”
Howard Edelstein, President & CEO of Radianz added: “Emerging market trends demonstrate that financial institutions are under increased scrutiny to reduce operational risk and leverage a sound infrastructure for their business processes. We look forward to working with Omgeo to be able to provide clients with cost-effective access to its services.”