24 August 2017
Visit http://response.ncr.com

Financial Models launches central matching utility

27 February 2004  |  4189 views  |  0 STP.gif

Canada's Financial Models Company has successfully launched its new trade messaging network FMCNet2, with a real-time central matching facility that enables it to encroach on territory previously monopolised by DTCC/Thomson joint venture Omgeo.

Following months of beta-testing with industry participants, the first phase of the FMCNet2 release took place in mid-February, when over 60 clients moved to FMC's upgraded standing settlement instruction database. The current phase involves individually migrating over 240 clients world-wide to the full FMCNet2 system.

In addition to its local matching model, DTCC-ID Hub and Swift Hub, FMCNet2 offers users a central matching utility, enabling real-time messaging between counterparties.

Bob Shaw, FMC's director of electronic trade settlement says the Internet-accessd system automates the full trade lifecycle, from initiation through to settlement "while retaining flexibility and interoperability to integrate with any trade order management, portfolio accounting, or settlement system in the world."

FMC is the first vendor to move into the trade matching space since the demise of the consortium-backed Global Straight-Through Processing Association. The collapse of the GSTP left the field wide open to rival hub Omgeo. SunGard, which was also exploring the central matching business, has yet to make a move.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Capital Invest selects FMC performance and attribution system

Capital Invest selects FMC performance and attribution system

23 February 2004  |  3255 views  |  0 comments
Financial Models Company lays off eight per cent of staff

Financial Models Company lays off eight per cent of staff

20 February 2004  |  3274 views  |  0 comments
GSTP administrators invite trade matching tenders

GSTP administrators invite trade matching tenders

20 February 2004  |  4718 views  |  0 comments
Isitc Europe presents SSIfresh settlement model

Isitc Europe presents SSIfresh settlement model

29 January 2004  |  5144 views  |  0 comments
Financial Models Company launches BPO business

Financial Models Company launches BPO business

28 November 2003  |  3228 views  |  0 comments
Five investment firms join Omgeo CTM tests

Five investment firms join Omgeo CTM tests

20 November 2003  |  4809 views  |  0 comments
Omgeo CTM attracts JPMorgan as first custodian

Omgeo CTM attracts JPMorgan as first custodian

19 September 2003  |  4876 views  |  0 comments
GSTPA administrators open bidding on TFM

GSTPA administrators open bidding on TFM

12 June 2003  |  5487 views  |  0 comments
Omgeo in a FIX, says CityIQ; corporate actions coming good

Omgeo in a FIX, says CityIQ; corporate actions coming good

19 May 2003  |  6687 views  |  0 comments
GSTP failure pushes SIS Financial Services into the red

GSTP failure pushes SIS Financial Services into the red

04 December 2002  |  3401 views  |  0 comments
GSTP fall out begins as Northern Trust writes off $4.8 million

GSTP fall out begins as Northern Trust writes off $4.8 million

26 November 2002  |  4272 views  |  0 comments
GSTP winds up operations

GSTP winds up operations

22 November 2002  |  3886 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
download the paper nowvisit www.dorsum.euvisit www.worldpaymentsreport.com

Top topics

Most viewed Most shared
Rabobank constructs physical model to understand IT architectureRabobank constructs physical model to unde...
21586 views comments | 45 tweets | 89 linkedin
Barclays pairs banking data with third party apps for SmartBusiness DashboardBarclays pairs banking data with third par...
12123 views comments | 22 tweets | 35 linkedin
Australia regulates digital currenciesAustralia regulates digital currencies
11568 views comments | 21 tweets | 35 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
11314 views comments | 10 tweets | 8 linkedin
hands typing furiouslyWhy Is Risk Analytics Important?
10931 views 0 | 7 tweets | 1 linkedin

Featured job

Find your next job