Fidessa furthers partnership with Omgeo
New Minerva OEMS and Omgeo CTM interface offers multiple benefits
London, 7th April 2010 - Fidessa group plc (LSE:FDSA), the leading provider of multi-asset class trading, portfolio analysis, compliance, market data and connectivity solutions for the buy-side and the sell-side globally, has successfully completed an upgrade of its interface between Minerva OEMS, part of its LatentZero product suite for the buy-side, and Omgeo Central Trade Manager SM (Omgeo CTM).
The LatentZero platform is certified on the latest version of Omgeo CTM, which also includes Omgeo CTM for Broker/Dealers and Omgeo ALERT 2.0. One of the fundamental rationales for the upgrade is the expansion of asset classes available in the latest release of Omgeo CTM, including the capability to support futures and options in addition to the previously supported equities and fixed income. This is also a big advancement to the way Minerva OEMS users interact with the sell-side.
The Omgeo CTM interface within Minerva OEMS enables executions to be sent to Omgeo CTM and for the matched trades to be sent back into Minerva for order management; the buy-side can now match everything that broker/dealers using Omgeo CTM receive. The upgrade also includes a range of functionality improvements, including support for settlement instructions, both on market and client executions, enhanced support for step-outs and directed commission, and improved functionality for settlements and matching instructions for those employing a prime account structure.
"This upgrade of the Minerva OEMS and Omgeo CTM interface opens up a host of new functionality for Minerva users", said Chris Gregory, head of buy-side connectivity services at Fidessa. "Upgrading the system also gave us the opportunity to revisit the core architecture, and update and improve it to make it more robust. One of the areas where that work is most evident is in the new testing structure: clients can now include their unique workflow in our continuous automated testing, which offers an ongoing overnight maintenance service and an added level of reassurance."
Andy Hughes, executive director, partners at Omgeo added, "We are delighted to be extending our partnership with Fidessa. Through the work we have done together, we have made significant improvements in product functionality, especially with the ability to provide support for futures and options. With its LatentZero suite, Fidessa has a solid reputation for pushing buy-side technology to the level that is enjoyed on the sell-side, and that was clearly the approach here. We look forward to continuing a successful partnership that will yield further product enhancements in the future."
This partnership announcement follows the recent news of the extension of Fidessa's partnership on the buy-side with FINCAD, which enables users to value all fixed income and derivatives instruments in their portfolios through the LatentZero platform using FINCAD's industry-standard analytics.
About Omgeo SM
Omgeo creates certainty in post-trade operations through the automation and timely confirmation of the economic details of trades executed between investment managers and broker dealers. Every day Omgeo enables an efficient community of more than 6,000 financial services clients in 46 countries to manage matching and exception handling of trade allocations, confirmations, and settlement instructions. Omgeo has also extended its trade lifecycle coverage to include counterparty risk management, which supports end-to-end collateralization and reconciliation across multiple asset classes. Leading organizations rely on Omgeo to help manage an increasingly complex investment industry by providing operational stability and solutions that complement the focus on profitability in an era of escalating trade volumes. Across borders, asset classes, and trade lifecycles, Omgeo is the global standard for operational efficiency across the investment industry. Formed in 2001, Omgeo is jointly owned by the DTCC and Thomson Reuters.
For more information about Omgeo, please visit www.omgeo.com.PDF (0.03 MB)