Omgeo, post-trade efficiency service, together with Yieldbroker, electronic trading platform in the Australian fixed income marketplace, will deliver interface between their services to bring streamlined fixed income processing to Australian market participants.
Connecting Yieldbrokers online electronic trading platform with Omgeos trade confirmation service, Omgeo OASYS GlobalSM, broker/dealers are able to execute and process block trade and allocated splits through a single interface. It increases efficiency and reduces the potential for errors and trade failures, as trade information do not need to be re-entered between trade execution and trade processing.
The Yieldbroker/Omgeo interface is the reaction to recent tendency towards improving efficiency and reducing risk in post trade practices. Omgeo Central Trade ManagerSM (Omgeo CTM) provides access a wider community of trade counterparties.
By linking our services we are able to eliminate manual procedures in our clients trade lifecycles and significantly improve their STP rates for fixed income processing, says Julie Fe’aunati, director of relationship management, Omgeo, Asia Pacific.
One of our key objectives is improving transactional efficiency and the mitigation of operational and compliance risk for all debt market participants, says Richard Swift, general manager of Yieldbroker. The cost of building and supporting this type of systems interface may have been prohibitive for individual bank participants; but now this shared offering will be immediately available to Omgeo and Yieldbrokers clients.
L.D.