Omgeo ALERT Plus is a new feature set within Omgeo ALERTSM, Omgeo's Web-based global database for the maintenance and communication of standing settlement and account instructions, which allows clients the ability to create and manage their high-volume account and settlement data more efficiently.

Omgeo ALERT Plus contains all of the existing Omgeo ALERT functionality, as well as the ability for IMs and IMOs to manage large volumes of account and settlement data more easily and quickly via the Web-based interface, while helping to significantly reduce manual processes, costs and risk. Omgeo ALERT Plus provides IMOs and IMs with end-to-end control over the maintenance of account and settlement instructions and the ability to import new or updated account or settlement instruction (SI) data in one simple action, instead of making time-consuming individual account updates. Users can also rapidly change data that exists in multiple instances across accounts or settlement instructions, reducing the time and effort required to update multiple records and help reduce errors due to manual entry.

"One of the largest challenges in the post-trade, pre-settlement environment is ensuring accurate and reliable data is delivered to all counterparties of a trade," said Steve Matthews, managing director of product at Omgeo. "The issue is too often complicated by the lack of consistency around data maintenance. Omgeo ALERT Plus marks our commitment to help lead the industry in overcoming these challenges and further improve overall data integrity."

Omgeo ALERT Plus represents another milestone in Omgeo's SI strategy to increase data integrity and the ease-of-use of SI data. It complements the work Omgeo recently completed to convert nearly its entire investment manager, broker/dealer and global custodian client community to the new Web interface.

Future developments within Omgeo's SI strategy include further enhancing market rules, validations and asset class functionaoonality with new security types while also creating new data authentication functionality. Omgeo is also working to unite Omgeo ALERT and SID, eliminating the need for dual entry of settlement instructions and reducing trade failures.

Omgeo is a joint-venture of The Depository Trust & Clearing Corporation (DTCC) and Thomson Financial.