23 June 2015
OpenMarkets integrates with Omgeo to automate post-trade processing, opening doors to asset managers and institutional investors.
Online stockbroker OpenMarkets has integrated the central trade matching and settlement services provided by Omgeo Central Trade ManagerSM (Omgeo CTM), to automate the clearing and settlement of trades with global custody platforms.
Driven largely by demand from its financial advisory clients using Wrap platforms, the integration now allows OpenMarkets to provide scalable broking and clearing services to institutional investors and asset managers.
Omgeo is a wholly-owned subsidiary of The Depository Trust and Clearing Corporation (DTCC) and the global standard for post-trade efficiency, which serves over 6,500 investment managers and custodian banks in more than 50 countries – including Australia.
“As Australia’s fastest growing stockbroker, it is a natural progression for us to integrate with Omgeo CTM as we continue to gain market share in the intermediary broking space”, said CEO of OpenMarkets Mr Rick Klink.
“We received increasing demand from our intermediary clients who wished to maintain client assets on Wrap platforms but take advantage of our low cost execution. We’re now pleased to be able to provide this service to our clients,” said Mr Klink
“With Omgeo as the leading post-trade technology used by the vast majority of investment mangers in Australia, this now allows OpenMarkets to cater to the institutional market, while better manage and reduce counterparty and credit risk. Together, with our low cost execution, scalable systems and cloud hosting, we believe OpenMarkets will be an attractive choice for institutional investors using Omgeo, and look forward to growing this area of our business.”
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For more information please see next page for Background on OpenMarkets and Omgeo.
Or please contact:
OpenMarkets Communications Manager
P 03 8199 7702 E firstname.lastname@example.org
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 About DTCC
With over 40 years of experience, DTCC is the premier post-trade market infrastructure for the global financial services industry. From operating facilities, data centers and offices in 16 countries, DTCC, through its subsidiaries, automates, centralizes, and standardizes the post-trade processing of financial transactions, mitigating risk, increasing transparency and driving efficiency for thousands of broker/dealers, custodian banks and asset managers worldwide. User owned and industry governed, the firm simplifies the complexities of clearing, settlement, asset servicing, data management and information services across asset classes, bringing increased security and soundness to the financial markets.
In 2014, DTCC’s subsidiaries processed securities transactions valued at approximately US$1.6 quadrillion. Its depository provides custody and asset servicing for securities issues from over 130 countries and territories valued at US$64 trillion. DTCC’s global trade repository maintains approximately 40 million open OTC positions and processes roughly 280 million messages a week. To learn more, please visit www.dtcc.com or follow us on Twitter @The_DTCC.