Omgeo Wins “Collateral Technology Provider of the Year,” “Post-Trade Provider of the Year” from Custody Risk and “Best Collateral Management Solution” from FTF News
Omgeo, the global standard for post-trade efficiency, today announced that is has been named both the “Collateral Technology Provider of the Year” and the “Post-Trade Provider of the Year” in the 2013 Custody Risk Americas Awards, as well as the “Best Collateral Management Solution” in the 2013 FTF News Technology Innovation Awards.
The Custody Risk awards recognize custodians, fund administrators and service providers in the securities services industry for both North and South America. The FTF News awards are designed to honor innovative financial technology solutions.
Omgeo won the Custody Risk Americas and FTF News collateral awards for its solution, Omgeo ProtoColl®. ProtoColl is an end-to-end collateral management solution that allows firms to effectively monitor and manage their collateral and reduce counterparty risk.
ProtoColl operates in near-real time, automates exposure and collateral calculations, and provides information on collateral movements and counterparty calculations. Contributing to its award wins, Omgeo recently enhanced ProtoColl to provide a holistic view of collateral exposures across bilateral and centrally cleared OTC derivatives trades, exchange-traded derivatives (ETDs) and other collateral-related transactions. Omgeo also added new ProtoColl functionality to help firms optimize their use of collateral as well as comply with new CFTC mark-to-market reporting requirements.
Omgeo won the Custody Risk Americas “Post-Trade Provider of the Year” award for its full suite of services that automate post-trade processes across the global markets, including Omgeo Central Trade ManagerSM (Omgeo CTM). Omgeo CTM centrally matches ETDs, contracts for difference, equities and fixed income transactions. In 2012, Omgeo experienced a 35 percent year-on-year increase in the number of investment managers and broker/dealers using its central matching service, which now has over 1,300 clients worldwide. The company launched increased cross-border capabilities in March 2013 for high-growth products including the to-be-announced (TBA) market.
“The past year has been characterized by firms’ need to prepare for new clearing mandates and the impending collateral shortage, and Omgeo is dedicated to continually adapting our technology to help clients mitigate risk and prepare for these changes,” said Rick Enfield, Omgeo’s Executive Director of Product Management for ProtoColl. “We are honored to have our efforts recognized by the industry in the Custody Risk and FTF News awards.”
“These awards are testaments to Omgeo’s continually evolving post-trade solutions that improve efficiency and reduce risk across the financial markets, as well as to the excellence we strive for with our collateral management offering, ProtoColl,” said Marianne Brown, President and CEO of Omgeo. “We look forward to continuing to partner with our clients to further enhance their post-trade operations and collateral management capabilities as the regulatory landscape continues to evolve.”