Five investment firms join Omgeo CTM tests

Five investment firms join Omgeo CTM tests

Trade matching venture Omgeo has released a new version of its straight-through processing (STP) platform, Omgeo Central Trade Manager (Omgeo CTM), which includes functions that can help reduce implementation time to 6-8 weeks.

Version 1.3 of the central matching utility features a Web interface, allowing clients to connect to the Omgeo CTM host via the Internet, while eliminating the cost and set-up time associated with leased lines. Omgeo says access via the Internet lowers barriers to entry by providing all types of clients with a simple and cost-effective way to connect.

The new release also includes message mapping tools that simplify the coding effort to provide baseline functionality, enabling investment managers to reduce the time required to upgrade to Omgeo CTM as well as simplifying integration with order management/portfolio management systems.

An enhanced interface provides access to new features for viewing current and past trade status and amending or rejecting trade level and detail information.

Jim Casey, MD, global product management and marketing, Omgeo, says: "By offering this new functionality, we have responded directly to our clients' need for a reduction and simplification of the integration effort required to implement Omgeo CTM."

Casey adds: "By reducing the barriers to increased automation, we aim to expand the reach of STP to all securities firms, regardless of their size."

In addition to the existing CTM clients, five new firms - including AXA Rosenberg Investment Management, Fisher Investments and LSV Asset Management - have partnered with Omgeo to pilot the new release and are currently going through Beta testing.

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