OMGEO TRADESUITE TO OFFER REPURCHASE AGREEMENT (REPO) FUNCTIONALITY

Posted April 1, 2008

NEW YORK – Post-execution trade management solutions provider Omgeo has added repurchase agreements (repos) and reverse repos for virtually all types of securities to version 7.0 of Omgeo TradeSuite, its US trade confirmation service.

Omgeo chose to add repos following consultation with clients and the Securities Industry and Financial Markets Association (SIFMA), which identified repos as a type of securities transaction for which most of the processing remains manual, according to Steve Matthews, Managing Director at Omgeo.