SimCorp joins Omgeo STP Partner Program

SimCorp joins Omgeo STP Partner Program
Omgeo, the DTCC-Thomson virtual matching utility, has signed up Simco as one of the “partner” vendors it hopes will help it tie more fund managers, broker-dealers and custodians into its solution than that of rivals GSTPA and SunGard. Copenhagen-listed Simcorp supplies an investment management system called TMS2000, whose customers can now interfaceseamlessly with the Central Trade Manager (Omgeo CTM) Omgeo has built to compete with the Transaction Flow Monitor (TFM) being tested by the GSTPA.Simcorp is the thirty-eighth vendor to join the Omgeo partnership scheme since it wasstarted in 1998. The idea is to make it easier and cheaper for clients of existing STP systems to hook up to Omgeo rather than GSTPA. Omgeo partners include suppliers of buy-side order management systems, portfolio management systems, sell-side trading systems, service bureaus for investment managers, service bureaus for broker/dealers, and service bureaus for custodians and middleware vendors around the globe. The vendors involved include Charles River Development, Checkfree, Eze Castle Software, Heliograph, Mercator, RoyalBlue, Princeton Financial, SmartStream and Thomson Financial Investment Management Group. A complete list can be found at www.omgeo.com”Now, with SimCorp joining the Omgeo STP Partners Program we can provide our and their clients with seamless integrated services across Continental Europe,” said Richard Hughes, Managing Director Europe/ Middle East and Africa, Omgeo. “This announcement will enable asset managers to achieve straight through processing right through from the front to the back office, thereby truly delivering the benefits of total automation. Omgeo is committed to ongoing strategic collaboration for the benefit of our clients through the STP Partner Program.”Kjell Nordgard, managing director of SimCorp Limited added, “We are committed to providing our clients with access to Omgeo Central Trade Manager, which will bring great efficiency and automation for our clients post trade. By joining the STP Partners Program we will be able to work with all vendors on STP processes and set strategic business objectives for the benefits of all of our clients.”