With Omgeo OASYS Global, broker/dealers can send block confirmations directly to their clients and receive allocations electronically, enabling them to automatically send contract notes for affirmation of trade data. The trade processing system is always online with the host, ensuring immediate delivery of trade details and allocations, even during peak volumes.
Fidessa has partnered with Omgeo to provide a bureau service for its hosted platform customers in Europe delivering easy access to real-time trade allocation and confirmation services via a direct interface between the Fidessa Middle Office and Omgeo OASYS Global.
Previously, firms wishing to connect to Omgeo OASYS Global would run a batch process through an Omgeo OASYS Global workstation. With the new European bureau service, Fidessa customers will benefit from a direct and real-time connection.
Simon Powell, Regional Manager, Global Alliances, Omgeo, commented: âPartnering with Fidessa allows our mutual clients to easily realise the benefits of Omgeo OASYS Global Direct and a more streamlined post-trade environment. In todayâs volatile global markets, the minimisation of operational risk and the associated time and cost savings are critical factors for instilling confidence in the supporting infrastructure and the community as a whole. Through Fidessaâs bureau service many more banks and brokers out there are benefiting from these efficiencies.â
Fidessaâs fully integrated Middle Office solutions enable customers to maximise straight through processing and reduce operational risks associated with the manual processing of allocations and confirmations. Fidessa's hosting centres support nearly 70 European banks and brokerage firms. The rationalisation of customer connectivity in this way means that Omgeo OASYS Global connectivity is available to them at the "flick of a switch".
Trevor Brown, Head of European Marketing, Hosted Services, Fidessa, added: âWeâre delighted to be working with Omgeo to provide this service for our users. By managing the connectivity ourselves we are able to deliver the benefits of scalability which leverages real-time connectivity to Omgeo OASYS Global across a robust and reliable infrastructure. This gives our customers the ability to provide an improved level of service to their clients.â