LatentZero has formed an STP Partnership with Omgeo, the leading provider of post-trade, pre-settlement trade management solutions.
The collaboration will see the integration of Omgeo Central Trade ManagerSM (Omgeo CTM), a state-of-the-art STP solution for processing cross-border trades from execution through settlement, into LatentZero's order management and trading application, Minerva.
Minerva has been enhanced to enable executions to be sent to Omgeo CTM whilst allowing users to track the progress of confirmation. An adaptor developed by LatentZero sends a trade down to Omgeo CTM, retrieves progress, status and amendments required, and once it is matched with the broker's details, brings the matched trade, along with commissions, into Minerva for order management.
"By using the certified interface between Omgeo CTM and Minerva, LatentZero users will benefit from a seamless end-to-end automation of the trade process," explains Paul Charie, Sales Director of LatentZero. "Put simply, the interface will increase operational efficiency and reduce processing time. Furthermore, the new functionality has been made generic so that Minerva can support other STP platforms."
Minerva offers users 24x7 cross-asset order management and trading capabilities, an ability to integrate real-time market data from leading providers into its trading blotter, and direct access and algorithmic trading services using the FIX messaging protocol.
"We are delighted to have LatentZero as a Certified STP Partner," stated Kathy Ball-Toncic, Executive Director of Omgeo's Global Partnering Program. "Through this partnership, we are able to deliver on the promise of STP, by offering integrated and certified interfaces that streamline the trade process and enable efficiencies resulting in greater ROI for our mutual clients."