Omgeo has entered partnership with London Stock Exchange Group’s (LSEG) UnaVista to support tri-party matching of synthetic equity swaps between executing brokers, prime brokers and investment managers.
The offering links UnaVista with Omgeo Central Trade ManagerSM (Omgeo CTM), Omgeo’s strategic platform for the central matching of cross-border and domestic equity, fixed income, repos, exchange traded derivative and equity swaps transactions.
The Omgeo CTM/UnaVista partnership combines the respective workflows of the two platforms, automatically connecting investment managers on Omgeo CTM with their prime broker counterparties on UnaVista to match the economic details of the swap, and to communicate and match allocation breakdowns.
In addition to UnaVista’s existing community of prime brokers and executing brokers, the integrated solution allows executing brokers already on Omgeo CTM to use their existing interface to deliver the give-up (hedge) to the prime broker.
Finally, the combined workflow provides investment managers with new insights into the give-up status of swaps trades and allows them to view all of their transactions within the Omgeo CTM environment. The solution currently supports any swap with an equity underlier.
The service also enables parties to match both legs of the trade on T+0 whilst providing additional consistency across equities and equity swaps for investment managers.
Mark Husler, global head of product management at LSEG, commented, “This new partnership allows us to combine Omgeo’s buy-side network with UnaVista’s prime broker network, providing one of the largest [contract for difference] communities on the market.”
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