Fortune SGAM Adopts Omgeo ALERT & Omgeo CTM Via Hundsun
First domestic investment manager in China to go live on the interface
Shanghai/Beijing/Boston/New York/London – December 13, 2010 – Omgeo, the global standard for post-trade efficiency, today announced that Fortune SGAM, one of China’s leading investment management firms, is the first company to go live on the Omgeo-Hundsun interface for cross-border post-trade processing. The Omgeo-Hundsun interface was established in June 2010 after the two companies entered into a global alliance agreement the previous year.
Fortune SGAM, a QDII fund manager, invests in domestic and international markets. By adopting the Omgeo-Hundsun interface, Fortune SGAM will be able to automate its cross-border trade processing using Omgeo Central Trade ManagerSM (Omgeo CTM) accessed via the existing Hundsun order management system (OMS) in its local language. In addition, Fortune SGAM has adopted Omgeo ALERTSM, the industry’s largest and most compliant web-based global database for the maintenance and communication of standing settlement and account instructions (SSI) for multiple asset classes. With this solution, Fortune SGAM’s trades within Omgeo CTM will be automatically enriched with accurate and compliant SSI data from Omgeo ALERT.
Fortune SGAM will gain a number of benefits from the Hundsun-Omgeo interface. With access to Omgeo’s 6,000-strong global community of broker/dealers and investment managers, Fortune SGAM will be able to centrally match the trade details of their cross-border transactions, thereby achieving same or next day settlement across multiple time zones. By opting for the settlement notification feature in Omgeo CTM, Fortune SGAM will also have the ability to create settlement messages in industry standard formats and transmit them to their custodians or other third-parties via the SWIFT network. This enables complete middle- to back-office straight-through processing (STP) to occur on trade date to promote data accuracy and the timely settlement of global transactions.
Helen Huang, Deputy General Manager of FS Fund stated, “Through Omgeo CTM and other related Omgeo services, we have realized highly automated cross-border trading, improved our clearing efficiency, reduced our operational risk and lowered the failure ratio of our trading, which enables us to easily cope with peak trading periods.”
“We welcome Fortune SGAM to our global community,” said James E. Drumm, Executive Director, Asia Pacific, Omgeo. “Moving to a fully automated post-trade environment will enable Fortune SGAM to maintain scalability and manage operational risk as cross-border volumes grow. We are very pleased to partner with Hundsun to provide the interface that makes this possible.”
“Through our seamless integration with Omgeo CTM, Hundsun Technologies’ OMS clients will benefit from a streamlined operational workflow and improved efficiency, in addition to the advantage of a localized Mandarin Chinese interface for trade processing and exception resolution,” said Liao Zhang Yong, Head of Investment Management, Hundsun Technologies Inc.
ABOUT FORTUNE SGAM
Established in 2003, Fortune SGAM Fund Management Co. Ltd. (FS Fund) is jointly owned by China Baosteel Group Co. and French Société Générale Group. As one of the major joint venture fund management companies, FS Fund has grown to offer a wide range of products and services tailored to meet the specific needs of its clients with a total AUM of RMB 42.40 billion and 15 different types of fund products including ETF products, as on 30 June 2010. FS Fund has also extended its investment scope across the borders to include QDII fund product since 2007, which enables customers to benefit from our accessibility into overseas markets. Facing the increasingly complex financial markets, some institutional investors also entrust their capitals to FS Fund via mandate accounts investment. Across markets, asset classes, and borders, FS Fund is committed to providing superior and consistent performance for our investors, as well as comprehensive and satisfactory client service and relationship management. For more information about FS Fund, please visit www.fsfund.com.
ABOUT OMGEOSM
Omgeo creates certainty in post-trade operations through the automation and timely confirmation of the economic details of trades executed between investment managers and broker dealers. Every day Omgeo enables an efficient community of more than 6,000 financial services clients in 46 countries to manage matching and exception handling of trade allocations, confirmations, and settlement instructions. Omgeo has also extended its trade lifecycle coverage to include counterparty risk management, which supports end-to-end collateralization and reconciliation across multiple asset classes. Leading organizations rely on Omgeo to help manage an increasingly complex investment industry by providing operational stability and solutions that complement the focus on profitability in an era of escalating trade volumes. Across borders, asset classes, and trade lifecycles, Omgeo is the global standard for operational efficiency across the investment industry. Formed in 2001, Omgeo is jointly owned by the DTCC and Thomson Reuters.
ABOUT HUNDSUN
Founded in 1995, Hundsun Technologies Inc. is the premier software vendor for China’s financial services industry. As the market leader and the only total solution provider in the Chinese capital market, Hundsun employs over 2,200 professionals and is listed on the Shanghai Stock Exchange since 2003. We count over 90% of China’s brokerage firms, asset management companies, banks, insurance and pension fund companies as our clients. Our comprehensive suite of products includes investment management and trading platforms, compliance, risk-management, retail and e-commerce solutions for both buy- and sell-side institutions. Hundsun is headquartered in Hangzhou and has a presence in 28 locations including Beijing, Shanghai, Shenzhen, and Hong Kong as well as Japan and the United States. It is a FINTECH100 company and ranked in Forbes’ Asia 200 Best Under A Billion. To learn more, please visit www.hundsun.com.
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