INDATA Partners with Omgeo to Provide Investment Managers with Real-time Access to Omgeo CTM for INDATA Precision Trading Users via FIX
FIX Implementation Reduces Costs, Improves Efficiency, Accelerates Trade
Matching for International Securities Trading
Greenwich, CT — November 2, 2009 -- INDATA, a leading industry provider of SaaS (Software as a Service) for buy-side, investment management firms today announced that Precision Trading, INDATA’s ‘best of class’ OMS and front office solution is fully certified with Omgeo Central Trade ManagerSM (Omgeo CTM), Omgeo’s central matching engine. As a result, investment managers using INDATA now have a strategic platform for central matching of transactions across multiple asset classes directly via the FIX protocol.
Omgeo CTM automates the allocation and confirmation parts of the trade lifecycle, involving investment managers, broker/dealers and custodian banks. Through INDATA’s partnership with Omgeo, global investment managers using INDATA’s Precision Trading can now send trade allocations directly to their broker/dealers, automatically generate affirmations for matched trades and notify custodian banks of allocations and settlement instructions.
“For our OMS and Front Office users who trade international securities, the ability to directly access Omgeo CTM provides many efficiencies that are all based on the standard FIX protocol,” commented David J. Csiki, managing director, INDATA. “This is another example of our efforts to provide our clients with tools to accelerate trade matching, reduce costs and operational risk,” stated Csiki.
“By partnering with INDATA, our clients can easily realize the benefits of Omgeo CTM and a more streamlined post-trade environment,” said Tim Keady, managing director of global sales and relationship management at Omgeo. “Today more than ever before, the buy-side must minimize operational risk while reducing costs and remaining strategic when it comes to operations. INDATA’s link to Omgeo CTM offers clients a fast, automated and secure transition so that the benefits of central trade management can be quickly realized.”
About INDATA®
INDATA® is a leading industry provider of SaaS (Software as a Service) for buy-side firms, including trade order management (OMS), compliance, portfolio accounting and front-to-back office. The company’s mission is to provide clients with cutting edge technology products and services to reduce costs and increase operational efficiency.
INDATA provides software and services to a variety of buy-side clients including asset managers, registered investment advisors, banks and wealth management firms, pension funds and hedge funds. Assets under management range from approximately $25 million to over $80 billion across a variety of asset classes (i.e. equity, fixed income, etc.) both domestic and international. For more information, please visit www.indataweb.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.
For more information about Omgeo, please visit www.omgeo.com
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