WORLD’S SECOND LARGEST PENSION FUND LINKS TO MATCHING ENGINE VIA BLOOMBERG TRADING PLATFORM
Omgeo, the world’s leading provider of post-trade, pre-settlement trade management services, today announces that ABP Investments (“ABP”), the world’s second largest pension fund and the Netherlands’ biggest, 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, achieved without on-site integration, enables ABP to send trade allocations directly to its broker/dealers using best of breed technology, 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, as well as wealth managers and hedge funds. The co-operation with Bloomberg is part of Omgeo’s global STP Partners Program, where Omgeo partners with the world’s leading technology and service providers.
Commenting on the link, Dave Pember, Director, Partners Program EMEA, Omgeo said: “This co-operation with a world class player such as Bloomberg demonstrates the power of the partnership programme. It has enabled us to offer European clients like ABP Investments 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.”
René van Dam, Senior Business Consultant, ABP Investments commented: “For ABP, Omgeo’s added value lies in the improved automation of its matching and settlement instruction processes. 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.”