Omgeo is working with investment managers across Taiwan to improve trade-processing efficiency among the local Taiwanese broker/dealer community. BlackRock, Omgeos client for central trade matching in Taiwan, is assisting the firm with this development.
Automating post-trade processing has been a major feature among the local Taiwanese financial markets community, which currently operates on T+2. Research shows that Taiwanese users that have automated their post-trade processes have achieved higher levels of same day affirmation of trades (average of 97%). With the general push towards increased foreign investment in Taiwan and cross-border trading rising across Asia, an efficient post-trade processing environment will continue to be an important differentiator for Taiwans regional and global competitiveness as firms focus on the timely confirmation and reconciliation of trades. In addition, it will help firms to minimize the risks and penalties associated with failed trades.
BlackRocks adoption of Omgeo CTM has helped to drive the automation of trade confirmation processes with their Taiwan-based broker/dealer counterparties across equities and fixed income transactions.
“Automating trade processing across all asset classes with our counterparties continues to be a key focus area at BlackRock, said Jeffrey Plein, managing director at BlackRock. Investment managers and broker/dealers are better equipped to mitigate operational risk, reduce costs and grow their business when they are not limited by manual processes. Omgeo CTM plays a vital role in enabling Taiwanese firms to achieve this.
Julie Feaunati, director of Relationship Management, Asia Pacific at Omgeo said: Our global community of investment managers and broker/dealers has demonstrated that automating trades across asset classes is vital to creating an efficient front-to-back trade process. The move from manual trade processing to automation will not only improve the overall efficiency of the local Taiwanese market by minimizing the risk of trade failures, but also reduce the overall operational and post-trade risk which is a key focus for local and international investors.
Omgeo CTM has over 950 clients globally.
(JDC)