Omgeo and YSS Tech Partner to Increase Post-Trade Automation in Investment Management Firms in China
Partnership links Omgeo CTM central matching capabilities with YSS Tech financial valuation and investment transaction management solutions for streamlined trade processing
Shanghai/Beijing/Shenzhen/Hong Kong – 10 July, 2012 – Omgeo, the global standard for post-trade efficiency, today announced that it has signed a partnership agreement with Shenzen YSS Tech Info-tech Co, a leading provider of financial technology to China's financial services industry, in order to bring increased levels of automation to international equity and fixed income trade processing for Chinese investment managers.
With this partnership, Omgeo and YSS Tech have agreed to provide seamless, automated processes from execution to settlement by building interfaces linking Omgeo Central Trade ManagerSM (Omgeo CTM) with YSS Tech’s GoldenFinger, a financial valuation management product, and SPOMS, an investment transaction management solution. Omgeo CTM is the strategic platform for the central matching of cross-border and domestic equity and fixed income transactions. With this solution, investment managers in China will be able to increase settlement efficiency and reduce the operational risk associated with cross-border investment transactions, from execution and straight through to settlement.
Clients who choose these solutions will be able to access all of the benefits of Omgeo CTM directly from the YSS Tech’s GoldenFinger and SPOMS user interfaces in their local language. The joint offering is fully integrated and will further enable Chinese investment managers to seamlessly connect with Omgeo’s existing global community of 6,500 brokers and investment managers worldwide.
Omgeo has gained significant momentum in the Chinese market since its entry in 2009. As of April 2012, eight out of the top 10 QDII funds, as ranked by chinafund.cn, use Omgeo CTM to facilitate the matching of their cross border trades. As focus on offshore opportunities continues to increase, local investment managers are increasingly seeking effective methods to eliminate operational risk and increase capacity. With Omgeo CTM, clients are able to access and match trades centrally with the world’s largest connected group of central matching trade counterparties.
Vice President of YSS Tech’s Product Center, Chen Zhenfei, said, “YSS Tech is delighted to collaborate with Omgeo, in working together to provide users in the industry with more comprehensive settlement automation for offshore transactions.” Chen added, “Because the solutions link YSS Tech’s financial valuation system and investment transaction management system for Omgeo CTM through a data bridge, the design provides a solution for users of either YSS product as well as those using both products at the same time.”
“We welcome YSS Tech to our global community of partners,” said Nellie Dagdag, executive director, sales and solution delivery, Asia Pacific at Omgeo. “The partnership with YSS Tech will enable Chinese investment managers to support increased offshore activity through end-to-end automation on a straight-through-processing model and demonstrates Omgeo’s ongoing long-term commitment to the Chinese market.”
About YSS Tech
YSS Tech was established in 2001, and has been committed to software development for the asset management and custody business within Chinese financial institutions. Its users include many large and medium sized financial institutions in China, including custodian banks, fund management companies, insurance and insurance asset management companies, securities companies, trust companies, financial companies and social security councils. For more information, please visit www.ysstech.com.
About YSS Tech Products
YSS Tech’s financial valuation system, GoldenFinger, was the first product developed by the company, with a current market share exceeding 85%.
YSS Tech’s investment transaction management system, SPOMS, is one of the company’s newest products. It consolidates A-shares, inter-bank and OTC operations, QDII, stock index futures and other businesses into one. It has been widely used by insurance and insurance asset management companies, while fund management companies and securities companies have also started to take advantage of the system in recent years.
About OmgeoSM
At Omgeo, we are the operations experts, automating trade lifecycle events between investment managers, broker/dealers and custodian banks. We enable 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, we enable clients to accelerate the clearing and settlement of trades, and better manage and reduce their counterparty and credit risk. Our strength lies with our global community and our ability to adapt our 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. Formed in 2001, Omgeo is jointly owned by the DTCC and Thomson Reuters.
About Omgeo CTM
Omgeo CTM is Omgeo’s strategic platform for the central matching of cross-border and non-U.S. domestic equity, fixed income, exchange traded derivative and contract for difference transactions. In the past decade, the central matching service has evolved into a trade lifecycle management solution which offers various features including trade valuation, settlement notification, file mapping, trade enrichment, trade notification and benchmarking, as well as reporting from a trade blotter, archiving, filtering, sorting and searching. To promote increased levels of straight-through processing, Omgeo CTM also offers direct links to local market infrastructures and depositories, including the CDS (Canada), DCV (Chile), JASDEC (Japan), KSD (Korea) and EuroCCP. Today, Omgeo CTM has over 950 clients on the service worldwide. This includes the addition of 265 investment managers and broker/dealers globally in 2011 alone, representing 38% year-over-year growth.
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