New York/Boston/London â March 27, 2006 â Omgeo, the worldâs leading provider of post-trade, pre-settlement trade management services, today announced the availability of Omgeo ALERT via the Web for broker/dealers. This complements the work Omgeo completed in 2005 to convert nearly all of its investment manager and global custodian clients to the Web interface. It represents a milestone in Omgeoâs settlement instruction (SI) strategy to increase the data integrity and ease-of-use of SI data.
Omgeo ALERT, the industryâs largest global database for SI maintenance and communication, significantly reduces trade failure by enabling investment managers, brokers/dealers and custodian banks to automatically share accurate SI data worldwide. The new Web interface enables trade counterparties to access SI data more easily, therefore encouraging ongoing maintenance of the data and improving the quality of settlement instructions.
âOne of the largest challenges in the post-trade, pre-settlement environment has been the lack of a solution that makes the input and retrieval of quality settlement instruction data easy and readily available,â said Scott Knous, executive director of Omgeoâs settlement instruction business. âOmgeo ALERT via the Web is a direct response to that challenge and is just one of the many planned initiatives in our SI strategy.â
Omgeo ALERT via the Web retains all the existing functionality of the Omgeo ALERT workstation and will also afford counterparties the ability to reduce data maintenance costs, manage account settlements and distribute data directly from any computer with Internet Explorer 5.5 access or higher. There is no installation required, and users benefit from quick access, improved data integrity and speed for data entry, comprehensive online help and streamlined navigation.
âOmgeo remains dedicated to providing our community with solutions that address and resolve pain-points,â said Adam Bryan, president and CEO of Omgeo. âBy providing clients with streamlined, easy-to-use access to Omgeo ALERT via the Web, we enable them to better maintain large masses of critical SI data. Omgeo will continue to respond to client needs when enhancing our solutions to best serve the industry.â
The next step in Omgeoâs SI strategy, the SI Data Management solution, will enable more streamlined workflows for investment managers and will increase the level of automation and efficiency.