LINEDATA, OMGEO EXPAND PARTNERSHIP ON POST-TRADE PROCESSING

Posted September 2, 2009

BOSTON – Financial industry software provider Linedata Services (NYSE Euronext: LIN) has expanded its partnership with trade processing, risk mitigation, and securities operations services provider Omgeo to streamline post-trade processes.

Investment managers using the deployed or hosted versions of the LongView Trading Order Management System can now access Omgeo Central Trade Manager (CTM), the strategic platform for the central matching of transactions across multiple asset classes, directly via the FIX protocol.

“This new partnership with Omgeo gives LongView clients access to streamlined settlement functionality,” says Gavin Little-Gill, Global Head of Product Management for Front-Office, Linedata Services. “With real-time, straight-through processing, LongView OMS users achieve a higher level of efficiency, and catch any problems with trade failures early.”

The partnership offers a real-time, integrated cross-border trade and settlements management solution designed to meet the needs of equity investment managers across markets, and reduces costs and risks for LongView OMS users by offering a more seamless way to know when trades fail.

“Omgeo is committed to partnering with global leaders like Linedata Services,” says Tim Keady, Managing Director, Global Sales and Relationship Management, Omgeo. “This development consistently delivers same-day affirmation rates above 94 percent on T [trade date] and 97 percent on T+1. Investment managers will benefit from this new interface to Omgeo CTM via deployed or hosted LongView solutions and realize more streamlined operations while reducing costs and risks.”