As part of the agreement, Macgregor will also build an interface to Omgeo OASYS-TradeMatch including support for fixed income securities and exception processing. Macgregor currently provides interfaces to Omgeo OASYSSM, the leading electronic trade allocation and acceptance service and Omgeo OASYS GlobalSM, the worldwide electronic trade allocation and confirmation service. The OASYS-TradeMatch interface provides investment managers with real-time central matching of allocations to confirmations for U.S. domestic trades, which is often the most important step towards improving same day affirmation rates.
Stephen Alepa, EVP, Networks Group, Macgregor, commented, "By providing interfaces that connect to the solutions in play today as well as those slated for the future, we are able to insulate our clients from the technical complexity and expense of building and evolving their own interfaces while providing a powerful Macgregor exception management toolset that is integrated into the OMS."
"Providing all clients and counterparties with the ability to operate in an STP environment is an essential piece of improving market efficiency. With the Omgeo/Macgregor interfaces, we are able to provide our mutual clients with a very clear and logical migration option from sequential trade processing to central matching," said Dave Merrill, managing director, global operations at Omgeo. "What we are providing is targeted at their individual business needs and provides a quick return on investment."
Alepa concluded, "Continuing to enhance our connectivity to Omgeoâs suite of services is a significant value-add. Agreements like this support our overall strategy of further integrating and automating trade processes in support of STP for our clients."