Omgeo, the global standard for post-trade efficiency, today announced that it has been named the “Securities Services Technology Provider of the Year” in the Custody Risk Americas Awards 2012. The awards, now in their third year, recognize custodians, fund administrators and service providers in the securities services industry for both North and South America in 2011.
Contributing to Omgeo’s win were the significant client successes of 2011. This included the partnership with the Depósito Central de Valores, S.A. (DCV) of Chile. The majority of Chilean post-trade, pre-settlement processes for international transactions are not fully automated, relying on spreadsheets and faxes which create high operational risks and costs. Omgeo has partnered with the DCV to provide access to the central matching capabilities of Omgeo Central Trade ManagerSM (Omgeo CTM), the company’s central matching solution, through connections from the DCV’s institutional delivery system. At the same time, Omgeo CTM added 265 new investment manager and broker/dealer clients to the platform – a 38% year-on-year increase over 2010 – bringing the total number of clients to 950 worldwide.
Omgeo also continued to enhance its existing products and build its community with the addition of settlement instruction compliance scan functionality to Omgeo ALERTSM. ALERT is the industry’s largest and most compliant web-based global database for the maintenance and communication of accurate and compliant equity, fixed income, derivative and foreign exchange (FX) settlement and account instructions (SI). This was the final component of a multi-year plan to provide clients with enhanced features and clear industry and market rule compliance to improve data quality within ALERT.
“We are grateful to be selected as the winner of this award. What we feel distinguishes us is our ongoing efforts to help our clients successfully automate critical middle-and back-office processes. Our goal is to help the industry meet its increasingly high demands for transparency, standardization and risk mitigation and we appreciate the recognition of our efforts,” said Tim Keady, Managing Director of Sales and Solution Delivery at Omgeo.