Omgeo announced that 28 investment manager and broker/dealer firms have signed to adopt the new exchange-traded derivatives (ETD) functionality in Omgeo Central Trade Manager (Omgeo CTM), Omgeos central matching service for equity, fixed income, exchange-traded derivative (futures and listed options) and contracts-for-difference trades.
Omgeo recently increased asset class coverage on Omgeo CTM by adding central trade matching workflows for ETDs, building on the existing cross-asset class functionality. The ongoing development of Omgeo CTM, including the addition of new ETD capabilities as well as the migration of broker/dealer clients from Omgeos legacy local matching solution, Omgeo OASYS Global, to Omgeo CTM by June 30 2013, have contributed to a 35% increase in Omgeo CTM clients in the past year to more than 1,300 investment managers and broker/dealers worldwide.
Ted Leveroni, executive director of derivatives strategy and external relations at Omgeo, commented: Many of our clients want to operationally standardize their ETD post-trade processing with their equity and fixed income transactions, which are usually matched on the same day as trade date. We added ETD functionality to Omgeo CTM because we recognized that there was a need for a community-based solution that addressed the emerging regulatory framework around transparency and risk mitigation in the processing of derivatives. We are pleased to see our community embrace automation in this asset class.
(JDC)