Trade matching joint venture Omgeo is reporting that 62 investment management firms have adopted Oasys-TradeMatch, its trade allocation and central matching service for US domestic securities, in the past year.
A total of 81 investment managers have joined the service so far, of which 47 have gone live. This is up from the 19 firms that were signed up in January 2002, of which 13 were live.
Adam Bryan, president and CEO, Omgeo, comments: "We are committed to providing central matching to our clients as we believe it is a key enabler of STP and is the most efficient way of achieving the industry's goals of a much higher automation and lower operating costs."
Oasys-TradeMatch provides real time matching of trade allocations to confirmations, shortening time to affirmation and reducing the need for manual intervention.