OMGEO OFFERS ASSET MANAGERS SINGLE INTERFACE TO SETTLEMENT INSTRUCTIONS DATA

Posted February 25, 2008

NEW YORK – Trade management solutions provider Omgeo has streamlined access to its standing settlement instruction services by combining interfaces for its ALERT and SID databases. With the combination, all investment managers will be able to input, edit and delete Depository Trust Company (DTC) account and settlement instructions from one interface.

“This new interface is part of our long-term strategy to simplify our product suite and streamline access to our services,” says Steve Matthews, Managing Director, Product, at Omgeo. “We are pleased to be continuing to respond to client feedback and making improvements in the SSI space.”

The combination into one interface will enhance data quality and reduce trade failures by enhancing data entry, says Matthews. The consolidated interface will allow broker-dealers to retrieve DTC instructions from Omgeo ALERT. One single version of a DTC instruction is available for enrichment through any Omgeo transaction product, which alleviates the need to track through two separate systems.  Omgeo clients who have data in SID are currently being taken through a process to update and move the data to the ALERT interface.

The consolidated interface also will ensure complete, automated communications of account and settlement instructions. Additionally, it will make any market settlement instruction effective for settlement on a future date as well as providing a broker-dealer-only report to track investment manager accounts.