Truston Asset Management Standardizes Its Post-Trade Process for Domestic Trades with Omgeo CTM
Omgeo central matching community in Korea grows to over 40 leading firms
New York/Boston/London/Tokyo/Hong Kong/Singapore, 8 September, 2014 — Omgeo, the global standard for post-trade efficiency, announced today that Truston Asset Management, one of Korea’s top asset managers, is now set to standardize its domestic equity post-trade processes through the adoption of central matching capabilities via Omgeo Central Trade ManagerSM (Omgeo CTM) and Standing Settlement Instruction (SSI) enrichment with Omgeo ALERTSM.
Omgeo CTM is a strategic post-trade platform for the central matching of domestic and cross border equity, fixed income, exchange-traded derivatives (futures and listed options) and synthetic equity swaps. The solution also automates settlement notification (SN) communications between asset managers and custodian banks. ALERT is the industry’s largest and most compliant web-based global database for the maintenance and communication of account and SSIs.
Truston implemented Omgeo CTM in support of its growing domestic equity trading volumes and to reduce manual processes and risk in its broker confirmation and custodian SN processes. With automated central matching and SN capabilities, the firm can reduce manual intervention, improve operational scalability and foster trade processing efficiency. The firm is also able to improve same day affirmation (SDA) rates, lowering risk and enhancing settlement efficacy. Today, 43 financial institutions are leveraging Omgeo CTM in Korea, including 26 broker/dealers and 17 asset managers.
In addition to Omgeo CTM, Truston has adopted ALERT in order to automatically share account and SSI data with their counterparties. ALERT automatically enriches Omgeo CTM trades with accurate, compliant SSIs, improving data quality and promoting a smooth, reliable and transparent settlement process.
“We are pleased to be working with Truston to automate their domestic equity trades. Our clients in Korea have been using Omgeo CTM and ALERT in support of cross-border trades for many years, however, Truston is our first local asset manager to leverage our post-trade processing capabilities for domestic trades,” stated DTCC’s Executive Director of Sales and Solution Delivery for Asia, Nellie Dagdag. “This is a natural operational progression, as firms look to implement single post-trade processing platforms across asset classes and markets. As Korea continues to rebound from the effects of the global financial crisis and as volumes grow, we expect to see further adoption of Omgeo’s best practice solutions."
Lee Sung Won, Senior Executive Vice President, Head of Management Strategy Department at Truston, stated, “We are pleased to announce our partnership with Omgeo. Since implementing Omgeo CTM and ALERT, we have seen a significant reduction in our workload, reducing operational risks, resource demands and manual processes in both the confirmation/affirmation SSI data enrichment processes. We believe that Truston is now a few steps ahead of its competitors, and we are expecting increased investment opportunities in the near future.”
Today, there are over 1,700 firms that are leveraging Omgeo CTM globally, and 1,800 firms leveraging ALERT.
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. Omgeo is a subsidiary of The Depository Trust & Clearing Corporation (DTCC).
 Standing settlement instructions include data such as account numbers, BICs and place of settlement.
 Same day affirmation is defined as the agreement of all economic trade details on trade date, or T+0, such as quantity, cost and beneficial owner.
 As of August 2014