Indonesian asset manager to use Omgeo Central Trade Manager
11 March 2013 Singapore
Image: Shutterstock
PT Schroder Investment Management is the first Indonesian asset manager to go live on Omgeo Central Trade Manager (CTM).
The firm is the largest investment manager in Indonesia. Globally, it manages £212 billion as of 31 December 2012.
It will use Omgeo’s domestic and cross-border central matching service for equity, fixed income, exchange traded derivatives (futures and listed options) and contract for difference trades.
The adoption of the service in Indonesia aligns PT Schroder Investment Management’s local capabilities with those in other markets, which also use Omgeo CTM.
An Omgeo statement said that the adoption of Omgeo CTM in Indonesia introduces automation “to this largely manual market” and enables PT Schroder Investment Management “to mitigate operational risk and increase efficiency while using a single platform for the seamless communication of international and domestic trade details with broker-dealer counterparties”.
“This will also enable Schroders’ Regional Processing Hub, which is currently supported out of Singapore, to build contingency across its regional operations.”
PT Schroder Investment Management is also partnering with Omgeo to reach out to Indonesian brokers “to advocate the importance of automating post-trade processes in addressing operational risk and aligning with global best practice”.
Veronica Low, head of portfolio services in the Asia Pacific region at PT Schroder Investment Management, said: “As the largest investment manager in Indonesia, it is important that we take the lead in helping the industry move forward on automation as it minimses risks when managers seek improvements to their operational throughputs. This is particularly important in the Indonesian market where the back office is constantly under pressure to report matched trades to the custodians within a very tight turnaround time for NAV calculation.”
“With most of our equity brokers now on Omgeo CTM, 95 percent of our equity trades are now achieving STP. We will continue to work with our fixed income counterparties in the coming months to achieve similar STP rates for fixed income trades. We believe the operations team is now well placed to support future growth of PT Schroders’ business.”
The firm is the largest investment manager in Indonesia. Globally, it manages £212 billion as of 31 December 2012.
It will use Omgeo’s domestic and cross-border central matching service for equity, fixed income, exchange traded derivatives (futures and listed options) and contract for difference trades.
The adoption of the service in Indonesia aligns PT Schroder Investment Management’s local capabilities with those in other markets, which also use Omgeo CTM.
An Omgeo statement said that the adoption of Omgeo CTM in Indonesia introduces automation “to this largely manual market” and enables PT Schroder Investment Management “to mitigate operational risk and increase efficiency while using a single platform for the seamless communication of international and domestic trade details with broker-dealer counterparties”.
“This will also enable Schroders’ Regional Processing Hub, which is currently supported out of Singapore, to build contingency across its regional operations.”
PT Schroder Investment Management is also partnering with Omgeo to reach out to Indonesian brokers “to advocate the importance of automating post-trade processes in addressing operational risk and aligning with global best practice”.
Veronica Low, head of portfolio services in the Asia Pacific region at PT Schroder Investment Management, said: “As the largest investment manager in Indonesia, it is important that we take the lead in helping the industry move forward on automation as it minimses risks when managers seek improvements to their operational throughputs. This is particularly important in the Indonesian market where the back office is constantly under pressure to report matched trades to the custodians within a very tight turnaround time for NAV calculation.”
“With most of our equity brokers now on Omgeo CTM, 95 percent of our equity trades are now achieving STP. We will continue to work with our fixed income counterparties in the coming months to achieve similar STP rates for fixed income trades. We believe the operations team is now well placed to support future growth of PT Schroders’ business.”
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