Waters Readers Voted Omgeo Leading Vendor in the Category for Third Consecutive Year
Omgeo, the global standard for post-trade efficiency, today announced that it has been named “Best Exceptions and Reconciliation Management Provider” in the Waters Rankings for the third year in a row. The tenth annual Waters Rankings winners were selected by a survey of Waters’ 10,000 subscribers, including market participants and readers of Waters magazine, a financial markets technology publication.
“Omgeo has, for the third consecutive year, been voted by Waters’ readers as the Best Exceptions and Reconciliation Management Provider in the annual Waters Rankings,” said Victor Anderson, Editor in Chief of Waters. “This category, unquestionably one of the most keenly contested of the 26 categories in this year’s rankings, reflects the importance of exceptions management and reconciliation processes, as the industry addresses the ongoing challenges around improving trade processing, while simultaneously managing exceptions and reducing trade failures.”
Omgeo has a robust suite of exceptions and reconciliation management services, including:
- Omgeo Central Trade ManagerSM (Omgeo CTM) — A strategic platform for the matching of cross-border and non-U.S. domestic fixed income, equity, exchange traded derivative and contract for difference transactions that enables clients to effectively automate the confirmation and affirmation process, reconcile their trades and focus on exceptions. The solution gives a significant boost to firms’ same-day affirmation (SDA) rates. Omgeo CTM users have an average SDA rate of 93 percent, whereas firms matching trades locally average only 72 percent.
The solution has had sustained growth in the number of investment managers and broker/dealers using Omgeo CTM. In 2011, Omgeo saw a 38 percent year-on-year increase, with over 950 clients using the solution worldwide. In 2011, Omgeo also expanded its support of local market infrastructures, entering into a partnership with Chile’s Depósito Central de Valores (DCV) to connect Omgeo CTM with the Chilean Depository's institutional system.
- Omgeo ALERTSM — The industry’s largest and most compliant web-based global database for the maintenance and communication of accurate and validated equity, fixed income, derivative
sand foreign exchange (FX) settlement and account instructions (SSI), minimizes exceptions that can occur in the settlement process. With an on-going commitment to data quality, ALERT currently stores more than five million settlement instructions.
“We are thrilled to receive this recognition from the Waters community for the third year in a row,” said Lee Cutrone, Managing Director of Industry Relations at Omgeo. “Achieving such consistent results speaks to Omgeo’s ability to anticipate our clients’ operational needs in the ever-evolving markets. Due to increased scrutiny from regulators and pressure from investors, operations departments must implement more robust post-trade processes, improving efficiency and reducing risk. We are pleased that firms continue to partner with Omgeo to enhance their post-trade operations capabilities.”
Today, Omgeo has more than 6,500 clients in 52 countries, including 3,200 investment managers, 2,600 broker/dealers and 300 custodian banks.
The winners of the 2012 Waters Rankings will be featured in the August 2012 issue of Waters