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Omgeo and Hundsun Technologies Enter Global Alliance
Partnership to Enable Chinese Language Interface to Omgeo CTM
Shanghai/Beijing – 14 September, 2009 -- Omgeo, the global standard for post-trade efficiency, and Hundsun Technologies Inc, the leading provider of IT solutions and services to China's financial services industry, are pleased to announce that they have signed a global alliances agreement. The agreement is the first step to creating a certified interface between Omgeo Central Trade ManagerSM (Omgeo CTM) and Hundsun for China.
The interface between Omgeo CTM and Hundsun will enable Chinese investment managers to automate cross-border trade processing with Omgeo’s extensive global community of brokers and investment managers. Increased automation offers significant improvement in operational risk management, reduced error rates and increased efficiency.
Users of the interface will be able to access their Hundsun order management system, and the link to Omgeo, in Mandarin. This feature is expected to resonate well with local market participants.
“We are very pleased to partner with Omgeo in our continued drive to offer increased automation to the China financial marketplace.” said Mr. Hanlin Fang, the VP of Hundsun Technologies Inc. “Providing an end to end solution for cross border trade processing will significantly reduce operational risk and offer a greater level of security for China investment managers when they invest in offshore markets.”
“Omgeo has been dedicated to the Chinese market for several years,” said Tim Keady, managing director, global sales and relationship management at Omgeo. “By partnering with Hundsun, we aim to make it even easier for our clients in China to reap the benefits of central matching. Omgeo strives to provide the proper balance between global expertise and localized practices and this agreement is a natural extension of that goal.”
Development of the Omgeo CTM/Hundsun interface will start later this year and a solution will be available in 2010.
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.
ABOUT HUNDSUN
Founded in 1995 and listed on the Shanghai Stock Exchange since 2003, Hundsun Technologies Inc. is recognized as the premier technology provider for China’s financial services industry. We serve over 90% of China’s banks, asset management companies, brokerage firms, insurance and pension fund companies. With fifteen years of experience in the China capital markets, Hundsun is a trusted partner dedicated to delivering innovative solutions, high-quality services and committed to forming long-term client relationships. We offer a comprehensive suite of front to back-office software for both buy and sell-side institutions, including order & execution management, compliance, risk management & performance evaluation and wealth management capabilities.
In China,
More than 100 million retail investors place transactions through Hundsun's Execution Management System in the capital market.
More than 92% of asset managers conduct investment management through our award-winning OMS.
Hundsun's systems connect over 30 thousand branches of financial institutions and manage more than 3 trillion of Renminbi-denominated assets
Over 60% of commercial banks use Hundsun’s intermediary business platforms
Hundsun is headquartered in Hangzhou and has over 1800 employees across 30 locations including Beijing, Shanghai, Shenzhen, Hong Kong, Japan and US. We are a FINTECH100 company and a member of the FPL.
For more information, please visit www.hundsun.com
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