Omgeo adds Web interface to Alert database

Omgeo adds Web interface to Alert database

Trade matching utility Omgeo is providing clients with Internet access to its settlement and account instructions database, Omgeo Alert.

The vendor says Omgeo Alert via the Web retains all the existing functionality of its Alert workstation and will enable counterparties to manage account settlements and distribute data directly from any computer with Internet Explorer 5.5 access or higher.

Omgeo says the new Web interface enables trade counterparties to access SI data more easily, therefore encouraging ongoing maintenance of the data and improving the quality of settlement instructions.

"One of the largest challenges in the post-trade, pre-settlement environment has been the lack of a solution that makes the input and retrieval of quality settlement instruction data easy and readily available," says Scott Knous, executive director of Omgeo's settlement instruction business. "Omgeo Alert via the Web is a direct response to that challenge."

Omgeo says the new Web front end complements the work it completed in 2005 to convert nearly all of its investment manager and global custodian clients to the interface.

The move is also part of Omgeo's settlement instruction (SI) strategy to increase the data integrity and ease-of-use of SI data. The vendor says it is currently working on the development of an SI data management system, which will enable more streamlined workflows for investment managers and will increase the level of automation and efficiency.

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