Brooks Macdonald scales up clearing and settlement with OMX Securities

Source: OMX Securities

OMX Securities, a leading supplier of outsourced clearing and settlement services, today announced that Brooks Macdonald Asset Management is leveraging its existing clearing and settlement agreement with OMX to support significant growth in its discretionary management business.

Brooks Macdonald Asset Management is a subsidiary of specialist wealth management company Brooks Macdonald Group and has £1.0524bn funds under management (as at 31st December 2007). OMX Securities provides Brooks Macdonald with outsourced clearing and settlement services in UK, Foreign and European equities and funds.

When Brooks Macdonald needed to take on new business it turned to OMX Securities to achieve a rapid scaling up of its outsourced clearing and settlement operation in order to handle the increased volume of discretionary management business. OMX Securities successfully met mission critical timeframes, supporting Brooks Macdonald in achieving its sales and growth targets.

Chris Macdonald, CEO of Brooks Macdonald said: "OMX Securities helped us, quickly and efficiently, to meet the need to grow our business and have proved they are the right partner to support the continued expansion of our operation. The scalability of their clearing and settlement service will enable us to take additional new business well within our planned timeframes."

Angus Macdonald, CEO of OMX Securities comments: "OMX Securities is delighted to continue to support Brooks Macdonald to achieve its planned business growth. This project clearly signals that OMX Securities is well placed to provide wealth management firms with a flexible, responsive and professional clearing and settlement service."

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