NEW YORK (August 3, 2004) â Radianz, the leading global provider of financial connectivity services, announced today that it has teamed up with Omgeo to offer mutual clients an additional connectivity option that will streamline access to Omgeo Central Trade Manager (Omgeo CTM), the global solution for central trade management. The Radianz connection, which will be accessible to our community of over 10,000 financial services sites worldwide, is currently planned for availability by year end.
Under the agreement, Omgeo will utilize the Radianz shared market infrastructure platform as an alternative delivery mechanism for Omgeo CTM. In addition to matching trade details, Omgeo CTM also provides exception-only processing, real-time settlement instruction enrichment and automated settlement notification messaging to the global securities industry. As a member of the Omgeo STP Partners Program, Radianz and Omgeo are also exploring the possibility of additional interfaces to other Omgeo services.
"As the need to create greater operational efficiencies continues to grow across the industry, we recognized the importance of offering a variety of ways for clients to access Omgeo CTM," said Kathy Ball-Toncic, Executive Director, Global STP Partners Program at Omgeo. "Through Radianzâs shared connectivity platform, our clients will have the opportunity to access Omgeo CTM along with a variety of other services and counterparties they need to reach over a single resilient connection."
Howard Edelstein, President & CEO of Radianz added: "Emerging market trends demonstrate that financial institutions are under increased scrutiny to reduce operational risk and leverage a sound infrastructure for their business processes. We look forward to working with Omgeo to be able to provide clients with cost-effective access to its services."
For more information, please contact:
212-888-6115 Ext. 226