Truston automates with Omgeo
08 September 2014 Seoul
Image: Shutterstock
Korea’s Truston Asset Management is standardising its domestic equity post-trade processes with Omgeo Central Trade Manager (Omgeo CTM).
Omgeo CTM is a 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 implementation of Omgeo CTM is in support of Truston’s growing domestic equity trading volumes and to reduce manual processes and risk in its broker confirmation and custodian settlement notification processes.
By having an automated central matching and settlement notification capabilities, the firm can reduce manual intervention; improve operational scalability and foster trade-processing efficiency. The system will also allow the firm to improve same day affirmation rates, lowering risk and enhancing settlement efficiency.
Truston will also enrich its standing settlement instruction (SSI) using Omgeo ALERT, a web-based global database for the maintenance and communication of account and standing settlement instruction.
The adoption of ALERT will allow Truston to automatically share account and SSI data with its counterparties.
Lee Sung Won, senior executive vice president, head of management strategy department at Truston, said: “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.”
The Depository Trust & Clearing Corporation’s executive director of sales and solution delivery for Asia, Nellie Dagdag, said: “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 Omgero’s best practice solutions.”
Omgeo CTM is a 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 implementation of Omgeo CTM is in support of Truston’s growing domestic equity trading volumes and to reduce manual processes and risk in its broker confirmation and custodian settlement notification processes.
By having an automated central matching and settlement notification capabilities, the firm can reduce manual intervention; improve operational scalability and foster trade-processing efficiency. The system will also allow the firm to improve same day affirmation rates, lowering risk and enhancing settlement efficiency.
Truston will also enrich its standing settlement instruction (SSI) using Omgeo ALERT, a web-based global database for the maintenance and communication of account and standing settlement instruction.
The adoption of ALERT will allow Truston to automatically share account and SSI data with its counterparties.
Lee Sung Won, senior executive vice president, head of management strategy department at Truston, said: “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.”
The Depository Trust & Clearing Corporation’s executive director of sales and solution delivery for Asia, Nellie Dagdag, said: “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 Omgero’s best practice solutions.”
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