The user base of Omgeo Central Trade Manager (CTM) grew by 33 percent in 2013, with the addition of more than 150 broker-dealers and 280 investment managers.
The platform, which allows users to centrally match cross-border and domestic equity, fixed income, exchange traded derivative (futures and listed options) and contract for difference transactions, now boasts a user base of more than 1700 clients globally.
In 2013, total equity and fixed income volumes on Omgeo CTM also increased by 82 percent.
Post-trade services provider Omgeo attributes the user increase to “global market participants’ increased desire for automated, post-trade solutions that reduce risk and increase efficiency”, as well as completion of a migration of clients from its legacy local trade confirmation service, Omgeo OASYS Global, to CTM.
More than 500 broker-dealers successfully migrated to Omgeo CTM during the multi-year migration that concluded in June 2013.
“Omgeo CTM has been a key enabler of reduced risk and increased efficiency in post-trade operations at our firm,” commented Dominic Janssens, director of global investment operations at T. Rowe Price Associates. “Central matching has become viewed by the industry as the ideal method for the post-trade confirmation process.”
Tim Keady, chief client officer at DTCC, which took full control of Omgeo after agreeing to acquire Thomson Reuters’s 50 percent stake in the post-trade services provider in July 2013, said: “Community growth continues to be a key priority because it increases post-trade efficiency for all Omgeo CTM users.”
“A number of factors contributed to last year’s increase including our continued focus on strengthening our presence across Asia-Pacific and Latin America, as well as broadening our asset class coverage to include exchange-traded derivatives. We now have over 45 clients signed for ETD functionality.”
“More than ever before, firms are seeking to implement best practices across trading and post-trade operations, and regulatory and industry initiatives such as the move towards shorter settlement cycles continue to drive adoption of robust, automated processes. We expect this to continue in 2014.”
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