Bloomberg is to implement a direct interface from its Portfolio Order Management System (Poms) to Omgeo's Oasys-TradeMatch central matching system, under the utility's partners programme.
Omgeo Oasys-TradeMatch provides investment managers with real-time central matching of allocations to confirmations for US domestic trades.
The new link will enable Bloomberg clients to send both fixed income and equity trade allocations directly to their brokers, automatically generate affirmations for matched trades and notify custodians of allocations and settlement instructions, all from their Bloomberg terminal. The link is expected to be complete in autumn 2002.
Under the partnership, Bloomberg will also begin development of an interface to Omgeo Central Trade Manager (Omgeo CTM) for real-time settlement of domestic and cross-border trades worldwide. This linkage will ensure that allocation messages, collected by the Bloomberg Poms system, are passed on to Omgeo CTM for trade processing without any manual intervention, say the companies.
Emilia Fazzalari, manager, global product strategy, Bloomberg, says: "Omgeo is playing a key role in streamlining the current trade processing model and has a proven track record of providing reliable services to its global client base. By linking our services, we will bring greater levels of efficiency to our respective customers and further accelerate the industry’s move to STP.”