The Evare-Omgeo partnership will simplify client interaction with Omgeo TradeHub, Omgeo's open messaging system for post-trade communications between investment managers and custodian banks.

Evare's unique service will facilitate TradeHub communications for Omgeo's investment manager clients by enabling them to automatically transmit finalized trade details directly from their trading systems to their custodians, with no manual message translation or customization required.

Evare will collect and aggregate trade information from the investment manager, automatically translate it from the manager's format into a format acceptable to TradeHub, and then submit it to TradeHub on behalf of the manager through a single service-bureau link. TradeHub then transmits the information to its community of custodian banks. The new Omgeo-Evare partnership provides TradeHub clients with complete messaging standard flexibility.

"We are very pleased that we can help the financial services community take advantage of Omgeo's STP services, especially investment managers who use TradeHub to communicate with their custodial counterparties," said Ted Stanley, Executive Vice President of Evare. "With the addition of Evare's simple, customized link building and management service to TradeHub, firms now have an inexpensive, outsourced, and rapid way to get the advantages of STP without the expensive and time-consuming process of building and managing all of the links in-house."