Omgeo, a post-trade, pre-settlement trade management services provider, announced last week that ABP Investments (ABP), a pension fund, has gone live on Omgeo central trade manager (Omgeo CTM).
ABP has linked to Omgeo CTM through an interface directly from its Bloomberg portfolio order management system (POMS) that will enable the automated processing of fixed income and equity cross-border and domestic trades. The link enables ABP to send trade allocations directly to its broker/dealers, and automatically generates affirmations for matched trades via the FIX protocol directly from the Bloomberg Professional service.
ABP is one of a number of European pension fund clients live on Omgeo CTM and indicates Omgeo's desire to tailor solutions for specific client sectors, such as pension funds, wealth managers and hedge funds. The co-operation with Bloomberg is part of Omgeo's global STP partners program, where Omgeo partners with technology and service providers.
"This co-operation with Bloomberg demonstrates the power of the partnership programme," comments Dave Pember, director, partners program EMEA, Omgeo. "It has enabled us to offer European clients like ABP a full front-to-back office STP solution. The structure of the pension fund industry in countries such as the Netherlands and Sweden, enables funds to link directly to Omgeo CTM through Bloomberg POMS, thereby providing them with increased operational efficiency and reduced operational risk. We hope to be able to announce further examples of this in the coming months," he continues.
"For ABP, Omgeo's added value lies in the improved automation of its matching and settlement instruction processes," says Renú van Dam, senior business consultant, ABP. "This makes the process not only more efficient, but also improves the quality of ABP's investment data. This is accomplished without us spending our resources on all sorts of connectivity issues," adds van Dam.