Linedata Services Forms Alliance with Omgeo to Provide Real-Time Access to Omgeo CTM Through LongView
BOSTON, September 2, 2009 – Linedata Services (NYSE Euronext: LIN), the global leader for financial software, services and support, announced today that it expanded its partnership with Omgeo, the global standard for post-trade efficiency, to further streamline the post-trade process. Investment managers using the deployed or hosted versions of the LongView Trading Order Management System (“LongView”) can now access Omgeo Central Trade ManagerSM (“Omgeo CTM”), the strategic platform for the central matching of transactions across multiple asset classes, directly via the FIX protocol.
This partnership offers a real-time, integrated cross-border trade and settlements management solution designed to meet the needs of equity investment managers across markets. It is significant because it reduces costs and risks for LongView OMS users, by offering a more seamless way to know when trades fail.
“This new partnership with Omgeo gives LongView clients access to streamlined settlement functionality,” said Gavin Little-Gill, global head of product management for front-office. “With real-time, straight-through processing, LongView OMS users achieve a higher level of efficiency, and catch any problems with trade failures early.”
This joint solution allows users to send trade allocations from their LongView OMS to Omgeo CTM via the FIX protocol and automatically generate affirmations for matched trades with their broker/dealers. Omgeo CTM performs central matching for trades and notifies managers of exceptions to facilitate quick resolution, avoid trade failures, and automate settlement notification to custodians and settlement agents.
“We welcome Linedata Services as an Alliance Partner,” said Tim Keady, Managing Director, Global Sales and Relationship Management, Omgeo. “Omgeo is committed to partnering with global leaders like Linedata Services. This development consistently delivers same day affirmation rates above 94% on T and 97% on T+1. Investment managers will benefit from this new interface to Omgeo CTM via deployed or hosted LongView solutions and realize more streamlined operations while reducing costs and risks.”
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Notes to Editors
About Linedata Services
Linedata Services (Bloomberg: LIN:FP) is the global leader for investment software, solutions, and support. Linedata combines technological innovation, financial strength, and a deep understanding of the Asset Management, Leasing & Credit Finance, and Insurance & Savings industries. Linedata Services’ asset management division provides comprehensive, scalable solutions to the buy-side, to manage the entire investment process from pre-trade to post-settlement. Linedata is unique in offering a full front- to back-office solution via enterprise installation, or as an Application Service Provider (“software as services” or “service bureau” delivery), and has 20 years experience delivering ASP solutions.
Headquartered in France, Linedata Services achieved revenues of EUR 160.7 million in 2008, has offices worldwide and services more than 700 clients across 50 countries. For more information visit Linedata Services corporate site at www.linedata.com.
About Omgeo
Omgeo creates certainty in post-trade operations through the automation and timely confirmation of the economic details of trades between investment managers, hedge funds, broker/dealers, and banks. Every day, Omgeo enables an efficient community of more than 6000 financial services clients in 46 countries to manage matching and exception handling of trade allocations, confirmations, and settlement instructions. 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 on Omgeo, please visit www.omgeo.com.
About LongView Trading Order Management System (OMS)
LongView is Linedata Services’ award-winning, electronic, global, multi-asset class OMS developed to support the needs of portfolio managers, traders, compliance officers and operations personnel. The comprehensive system provides portfolio modelling, electronic trading, pre-trade compliance and unparalleled access to liquidity. Through numerous partnerships and seamless integration, LongView offers customers access to the liquidity sources of their choice. Unique technology and a commitment to broker neutrality has won LongView ten of the top 25 global asset management firms, and more than 150 clients worldwide. It has also won several industry awards including Waters Best Buy-Side OMS 2008and Financial-i Best OMS 2008.
About Omgeo CTM
Omgeo CTM is Omgeo’s strategic platform for the central matching of fixed income and equity transactions to further streamline trade flows, decrease operational risk, and increase efficiency. Omgeo CTM processes both cross-border and non-U.S. domestic trades, and offers exception-only processing, real-time settlement instruction enrichment, and automated settlement notification to custodians and interested third parties.
|
 |
|
|
