Linedata Services and support has expanded its partnership with Omgeo, the global standard for post-trade efficiency, to further streamline the post-trade process. Investment managers using the deployed or hosted versions of the LongView Trading Order Management System ("LongView") can now access Omgeo Central Trade Manager ("Omgeo CTM"), the strategic platform for the central matching of transactions across multiple asset classes, directly via the FIX protocol.
This partnership offers a real-time, integrated cross-border trade and settlements management solution designed to meet the needs of equity investment managers across markets. It is significant because it reduces costs and risks for LongView OMS users, by offering a more seamless way to know when trades fail.
"This new partnership with Omgeo gives LongView clients access to streamlined settlement functionality," said Gavin Little-Gill, global head of product management for front-office, in a company release. "With real-time, straight-through processing, LongView OMS users achieve a higher level of efficiency, and catch any problems with trade failures early."
This joint solution allows users to send trade allocations from their LongView OMS to Omgeo CTM via the FIX protocol and automatically generate affirmations for matched trades with their broker/dealers. Omgeo CTM performs central matching for trades and notifies managers of exceptions to facilitate quick resolution, avoid trade failures, and automate settlement notification to custodians and settlement agents.
"We welcome Linedata Services as an Alliance Partner," said Tim Keady, Managing Director, Global Sales and Relationship Management, Omgeo, in the release. "Omgeo is committed to partnering with global leaders like Linedata Services. This development consistently delivers same day affirmation rates above 94% on T and 97% on T+1. Investment managers will benefit from this new interface to Omgeo CTM via deployed or hosted LongView solutions and realize more streamlined operations while reducing costs and risks."