OGIS-RI Achieves Certification to Omgeo CTM for Broker/Dealers
Partnership to accelerate Japanese broker/dealer adoption of Omgeo CTM to drive increased operational efficiency
Tokyo – 8 November, 2010 – Omgeo, the global standard for post-trade efficiency, and OGIS-RI Co., Ltd., (OGIS), a leading system integrator for the Japanese finance industry, today announced that OGIS has certified their Lufei interface to Omgeo Central Trade ManagerSM (Omgeo CTM) for broker/dealers. Omgeo CTM, a central matching platform that automates post-trade communications between investment managers and broker/dealers, supports cross-border and domestic fixed income and equity transactions, streamlining trade workflows, improving operational efficiency and mitigating risk.
With this certification, OGIS becomes the first Omgeo partner to offer access to the Omgeo CTM broker/dealer allocation and confirmation workflow, a Japanese market-specific requirement that supports domestic transactions on an execution pricing basis. The joint offering will also enable Japanese broker/dealers currently using the Omgeo OASYS Global workstation import/export functionality to seamlessly migrate to the Lufei interface and Omgeo CTM, accelerating the trade lifecycle through central matching and increasing same day affirmation (SDA) rates for reduced operational risk.
Analysis shows that SDA rates increase to 98% on trade date when using the central matching capabilities of Omgeo CTM compared to 72% when leveraging local matching solutions such as Omgeo OASYS Global. By affirming trades more quickly in order to achieve SDA, operational risks, costs and failed trades decrease while settlement efficiency increases.
“Omgeo remains highly committed to Japan, our fastest growing market in Asia,” stated James E. Drumm, Executive Director, Asia Pacific, Omgeo. “By partnering with OGIS, broker/dealers will be able to leverage the Lufei certified interface to Omgeo CTM, making adoption of the central matching solution more seamless. This is especially important as our OASYS Global community members move to Omgeo CTM, where trades progress to settlement much more quickly.”
Stated Kenzo Kuriyama, Executive Director, Sales, OGIS, “Within our Japanese culture, firms are driven to continuously improve, or ‘Kaizen’. With this joint offering, OGIS and Omgeo provide a solution that will drive increased levels of efficiency within the market and contribute to ‘Kaizen’ for new users of Omgeo CTM and for existing Omgeo OASYS Global users who migrate to Omgeo CTM. We have received very encouraging feedback from the broker/dealer community and are pleased to be partnering with Omgeo to bring reduced risk to the Japanese market.”
About OGIS-RI
OGIS-RI is a 100 % subsidiary of Osaka Gas. Co., Ltd., the 2nd largest gas utility company in Japan, and provides full life cycle support for the IT systems of its parent company. OGIS-RI is known as the pioneer of Object-Oriented Technology and Unified Model based solutions in Japan, and has experience in IT development and maintenance in the manufacturing, finance and utility industries. Last year, OGIS-RI unveiled the concept of “100-hundred architecture”, a vision to realize sustainable IT systems. OGIS-RI is focused on offering solutions based on Modeling, Service-oriented architecture (SOA), Open Source Software (OSS) and Cloud integration to promote sustainable Enterprise IT systems.
To learn more about OGIS-RI, please visit: http://www.ogis-ri.co.jp/corporate_e/n-00.html.
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/japan.
To learn more about Omgeo CTM, please visit: www.omgeo.com/japan/ctm_j.html.
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