Post-trade processing firm Omgeo says its Central Trade Manager (CTM) platform, used for the central matching of cross-border and non-US domestic equity and fixed income transactions, has seen 40% year-on-year growth in clients for Q1 2011.
Over 600 firms buy-side and sell-side firms have adopted Omgeo CTM to process an average 5 million total allocations per month, including Indian mutual fund manager Birla Sun Life Asset Management on 5 April.
Centrally matching trades with Omgeo CTM achieve an average same day affirmation (SDA) rate of 93%, compared with 72% for locally matched trades.
“Omgeo CM is integral to LSV's back office function,” said Tremaine Atkinson, chief operating officer at LSV Asset Management. “With the central matching capabilities of Omgeo CTM, we are able to reduce operational risk by making trade communication fast and seamless, while achieving higher levels of SDA. Our SDA rates are far higher than industry norms because of Omgeo CTM.”
Omgeo CTM is a central matching service that has evolved into a trade lifecycle management solution which offers trade valuation, settlement notification, file mapping, trade enrichment, trade notification and benchmarking, as well as reporting from a trade blotter, archiving, filtering, sorting and searching.
The product aims to accelerate the post-trade lifecycle and enable users to manage risk. To promote increased levels of straight-through processing, Omgeo CTM also offers direct links to local market infrastructures and depositories, including Canada's CDS, Japan's Jasdec, Korea's KSD and pan-European clearing house EuroCCP.