Trading technology provider Fidessa has upgraded the interface between its Minerva order and execution management system (OEMS) and post-trade processing firm Omgeo’s Central Trade Manager (CTM), a pre-settlement trade matching system.
Minerva will connect to the latest version of Omgeo CTM, which includes CTM for broker-dealers and Omgeo ALERT 2.0, the firm’s web-based global database for the maintenance and communication of standing settlement and account instructions. According to Fidessa, one of the fundamental reasons for the upgrade was the new version of CTM’s ability to support futures and options as well as equities and fixed income.
The Omgeo CTM interface allows Minerva OEMS users to send executions to Omgeo CTM and receive matched trades back into the system for order management.
The upgrade also includes functionality improvements, including support for settlement instructions, enhanced support for step-outs and directed commission and matching instructions for those employing a prime account structure.
“This upgrade of the Minerva OEMS and Omgeo CTM interface opens up a host of new functionality for Minerva users,” said Chris Gregory, head of buy-side connectivity services at Fidessa, in a statement. “Upgrading the system also gave us the opportunity to revisit the core architecture and update and improve it to make it more robust. One of the areas where that work is most evident is in the new testing structure: clients can now include their unique workflow in our continuous automated testing, which offers an ongoing overnight maintenance service and an added level of reassurance.”