Omgeo, the global standard for post-trade efficiency, today announced that Legal & General Investment Management (“LGIM”), one of Europe’s largest institutional asset managers and a major global investor, has signed up for Omgeo’s central trade matching service, Omgeo Central Trade ManagerSM (Omgeo CTM).
LGIM, a user of Omgeo OASYS GlobalSM since 1998, will use Omgeo CTM for the post-trade processing of their equity and fixed income transactions. The implementation phase for the migration to Omgeo CTM is underway and it is intended that this will be live in November 2012.
Omgeo CTM offers benefits beyond OASYS Global, including real-time central matching capabilities, faster processing rates, and higher same-day affirmation rates. Omgeo CTM allows a flexible and non-sequential block allocation workflow, enabling system users and their counterparties to take a more proactive role in post-trade processing, as well as receive real-time transparency into trade statuses.
Lee Toms, Head of Investment Operations, Legal & General Investment Management, stated: “We look forward to utilising the new capabilities in Omgeo CTM and in further streamlining our post-trade communications with our counterparties and vendors.”
Commenting on the announcement, Tim Keady, Managing Director of Sales & Solution Delivery at Omgeo, said: “Legal & General Investment Management is a valued member of our user community and we are pleased that they will now be able to take advantage of the central matching capabilities on Omgeo CTM.”