Omgeo CrossCheck

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Reconciliation / Matching Systems

Product and service specifications

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Overview

There has never more critical time to leverage a shared workflow solution enabling easy buy-side to sell-side counterparty communication for reconciliation. With Omgeo CrossCheck we’ve created a new standard which utilizes a single source for connecting multiple counterparties via an industrial strength, secure network.

Omgeo CrossCheck is a centrally-hosted service that automates the comparison of portfolios of derivatives between investment managers, broker/dealers, and custodians. The comparison of economic details (trade date, notional, rate, etc), payment information, and valuation of positions and portfolios is based on custom-defined matching policies giving you the power to mitigate unnecessary counterparty risk exposure. Omgeo CrossCheck is also flexible enough to support just about any derivative position (provided data is available).

Key Benefits:

Increased Risk Management

· Proactively manage exceptions by tracking the identification, assignment and resolution of exceptions for a particular position

· Effectively produce records in the event of critical discrepancies and audit

Efficiency in Automation

· Automate position data collection from a centralized service from your counterparties

· Multi-lateral automated communication - send counterparties break information linked to trade details from both sides

Customer Service

· Gain a central view into the entire portfolio instead of across disparate systems

· Proactive reconciliation - provide your clients with transparency to their positions

Key Features:

2 or 3-Way Reconciliation:

Utilize Omgeo CrossCheck for reconciling with multiple parties from one central system. Omgeo CrossCheck connects Investment Managers, Hedge Funds, Broker/Dealers, Custodians, Prime Brokers and the DTCC Trade Warehouse. CrossCheck allows you to compare 3 or more sources for a given position or set of positions, for example, your CDS position records against your counterparty and the DTCC Trade Warehouse..

Flexible Matching Policies and Mapping Capabilities:

Omgeo CrossCheck allows for flexible matching policies, where you can define multiple profiles and tolerances for each product and counterparty you deal with. Omgeo recognizes the variety of disparate file formats used by participants in the market, and provides a sophisticated yet easy to use mapping tool to create standardized data for comparison.

Rollup Positions for Comparison on a Like-Basis:

Omgeo recognizes the challenge of comparing positions when parties have different methods for recording details. For example, when one party records an IRS as one record while the other party records it as two. CrossCheck solves this problem through it’s innovative Rollup feature, allowing these positions to be automatically combined each time they are loaded.

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