Omgeo, the global standard for post-trade efficiency, today announced that it has been named âBest Exceptions and Reconciliation Management Providerâ in the Waters Rankings for the second year in a row. The ninth annual Waters Rankings winners were selected by a survey of Watersâ 10,000 subscribers, including market participants and readers of Waters magazine, a financial markets technology publication.
âFor the past nine years Waters magazine has turned to its expert reader base to determine which vendors lead in their respective fields for the Waters Rankings. Once again, Waters readers have selected Omgeo as the Best Exceptions and Reconciliation Management Provider,â said Rob Daly, Online/US Editor of Waters.
Omgeo won the award for its robust suite of exceptions and reconciliation management services that enable financial services firms to efficiently process and reconcile trades globally, across multiple asset classes. The exceptions processing workflow allows firms to identify potential trade errors, while permitting error-free trades to move on to the next stage in the trade lifecycle. Increased scrutiny from regulators and pressure from investors are driving the need for operations departments to implement more robust post-trade processes, improving efficiency and reducing risk.
Omgeoâs exceptions and reconciliation management solutions include:
â¢ Omgeo ALERTSM, the industryâs largest and most compliant web-based global database for the maintenance and communication of accurate and validated equity, fixed income, derivatives and foreign exchange (FX) settlement and account instructions (SI), minimizes exceptions that can occur in the settlement process. With an on-going commitment to data quality, Omgeo ALERT currently stores more than 5 million settlement instructions.
â¢ Omgeo Central Trade ManagerSM (Omgeo CTM), the strategic platform for the matching of cross-border and non-U.S. domestic fixed income and equity trades, allows clients to effectively reconcile their trades and focus on exceptions. Omgeo processes more than 5 million trade details monthly via Omgeo CTM. Omgeo OASYS-TradeMatchSM links OASYS, the leading electronic trade allocation and acceptance service for U.S. securities, with Omgeo TradeMatch, the U.S. domestic central trade matching service. Like Omgeo CTM, OASYS-TradeMatch enables clients to reconcile trade data and focus on exceptions management.
â¢ Omgeo CrossCheckSM is a centrally hosted exception management solution that automates the comparison of derivatives portfolios and collateral between investment managers, broker/dealers and custodians. CrossCheck provides daily buy-side to sell-side reconciliation for more than 100,000 ISDA and ISMA positions, as well as collateral for 20 counterparties across the global markets.
Lee Cutrone, Managing Director of Industry Relations at Omgeo, commented, âWe are grateful to receive this award from the industry and Watersâ readers for the second consecutive year. With our communityâs support, Omgeo has truly become the standard in the post-trade space over the past 10 years. We remain deeply committed to partnering with the industry and our clients to ensure our services continue to develop in line with community needs and deliver even greater value.â
Today, Omgeo has more than 6,000 clients in 46 countries, including 3,200 investment managers, 2,600 broker/dealers and 300 custodian banks.
The winners of the 2011 Waters Rankings will be featured in the August 2011 issue of Waters and on the publicationâs website.
Recently, Omgeo also won four FTF News 2011 Technology Innovation Awards, including âService Provider of the Yearâ, âPerson of the Yearâ for Omgeo President and CEO Marianne Brown, âReconciliations & Exceptions Management â Best Automated Solutionâ and âBest Data Management Initiativeâ.