successfully completed first-stage testing of the connectivity module between its STP platform, Helio TradeFlow, and Omgeoâs central matching solution, Omgeo
The move confirms that HelioGraph clients have a seamless migration path to next-generation central matching utilities, which will process trades more efficiently and allow securities firms to track the status of trades online within seconds of a trade being made. Many existing ETC systems require dial-up connections which can take minutes or longer to access that information.
Working on behalf of Boston-based fund manager MFS Investment Management, HelioGraph successfully sent and received trade matching messages from the Omgeo CTM test server using its STP platform, Helio TradeFlow. The test
messages were sent in early July 2002. MFS plans to go live with its Omgeo CTM-enabled solution sometime in early 2003.
MFS will use HelioGraphâs STP platform, TradeFlow, to connect to Omgeo CTM and possibly to other central matching utilities as well. TradeFlow also provides local trade matching, sophisticated exception handling and dynamic SSI management. TradeFlow will therefore process any transaction, regardless of instrument type or whether the trade is matched locally, by Omgeo CTM or by another central matching utility. As such, TradeFlow offers its users the advantage of consolidated control over all of their transactions.
HelioGraph is working with MFS to develop business rules and technical infrastructure to enable fast and robust securities trading using Omgeo CTM. MFS already uses HelioGraph technology to automatically enrich and generate ISO 15022 settlement messages for its custodians and the firm has also licensed HelioGraphâs eVent corporate actions automation solution. MFS is one of only
eight fund managers participating in Omgeoâs Early Adopter Programme, and HelioGraph is one of a handful of vendors in the programme.
"Using our technology MFS was one of the first fund managers to be ISO 15022 â ready" said Amery Thomas, CEO of HelioGraph. "Now, weâre delighted to be able to provide MFS and the rest of our clients with access to Omgeo CTM. By adding this connectivity to our existing component-based single architecture, we are able to offer our clients an extremely cost-effective and painless migration path to this exciting new central matching utility."