Omgeo Named Best Exceptions and Reconciliations Management Provider in 2013 Waters Rankings
Waters’ Readers Voted Omgeo Leading Vendor in the Category for Fourth Consecutive Year
New York/Boston/London/Singapore — August 5, 2013 — Omgeo, the global standard for post-trade efficiency, today announced that it has been named “Best Exceptions and Reconciliation Management Provider” in the Waters Rankings for the fourth year in a row. The eleventh annual Waters Rankings winners were selected by a survey of Waters’ 10,000 subscribers, including market participants and readers of Waters magazine, a financial markets technology publication.
Omgeo won the award for its full suite of exceptions and reconciliation management products that allow financial services firms to efficiently process and reconcile trades across multiple asset classes.
“Omgeo has, for the fourth consecutive year, been voted by Waters’ readers as the Best Exceptions and Reconciliation Management Provider in the annual Waters Rankings,” said Victor Anderson, Editor in Chief of Waters. “This category, unquestionably one of the most thoughtfully contested of the 26 categories in this year’s rankings, reflects the importance of the exceptions management and reconciliation processes, as they directly address the critical trade processing challenges and failure recognition that market participants face today.”
Added Mark Bouchea, Executive Director of Product Management at Omgeo: “We are honored to receive this recognition from the Waters community for the fourth year in a row. Achieving such consistent results demonstrates Omgeo’s ongoing ability to anticipate our clients’ operational needs in the ever-evolving markets. Now more than ever, market participants are looking for ways to reduce risk and increase efficiencies through automation in their post-trade processes, and we are pleased that firms continue to partner with Omgeo to enhance their operational capabilities.”
Omgeo’s exceptions and reconciliation management solutions include:
- Omgeo Central Trade ManagerSM (Omgeo CTM)— A strategic platform for the matching of cross-border and domestic fixed income, equity, exchange traded derivative and contract for difference transactions that enables clients to effectively automate the confirmation and affirmation process, reconcile their trades and focus on exceptions.
During the past year, Omgeo has enhanced Omgeo CTM with new exchange-traded derivatives functionality to help firms more effectively and efficiently manage the post-trade process across asset classes from a single platform. Twenty eight investment managers and broker/dealers worldwide have signed on to leverage this new derivatives functionality.
- Omgeo ALERTSM— The industry’s largest and most compliant web-based global database for the maintenance and communication of accurate and validated equity, fixed income, derivatives and foreign exchange (FX) account and standing settlement instructions (SSI) minimizes exceptions that can occur in the settlement process. With an on-going commitment to data quality, ALERT currently stores more than five million settlement instructions.
In September 2012, Omgeo began working with Avox, a subsidiary of the Depository Trust & Clearing Corporation (DTCC), to add support for the global Legal Entity Identifier (LEI) initiative within ALERT. By working with AVOX to automatically populate LEI data into ALERT for Investment Managers and Brokers, Omgeo has enabled its community to more effectively identify and measure their level of counterparty exposure to an individual entity level, as well as their aggregate exposure to the parent.
Today, Omgeo has more than 6,500 clients in 52 countries.
The winners of the 2013 Waters Rankings will be featured in the August 2013 issue of Waters and on the publication’s website.
Formed in 2001, Omgeo automates trade lifecycle events between investment managers, broker/dealers and custodian banks, enabling 6,500 clients and 80 technology partners in 52 countries around the world to seamlessly connect and interoperate. By automating and streamlining post-trade operations, Omgeo enables clients to accelerate the clearing and settlement of trades, and better manage and reduce their counterparty and credit risk. Omgeo’s strength lies within its global community and its ability to create solutions to enable clients to realize clear returns on their investment strategies, while responding to changing market and regulatory conditions. Across borders, asset classes, and trade lifecycles, Omgeo is the global standard for operational efficiency across the investment industry.