OMGEO, HUNDSUN LINK ON CROSS-BORDER TRADE PROCESSING IN CHINA

Posted September 14, 2009

SHANGHAI and BEIJING – Trade processing, risk mitigation and operational services provider Omgeo and Chinese financial services industry IT solutions provider Hundsun Technologies Inc. have formed an alliance to create an interface between Omgeo Central Trade Manager (Omgeo CTM) and Hundsun for China to enable Chinese investment managers to automate cross-border trade processing with Omgeo’s global community of brokers and investment managers.

“We are very pleased to partner with Omgeo in our continued drive to offer increased automation to the China financial marketplace,” says Hanlin Fang, Vice President, Hundsun Technologies Inc. “Providing an end to end solution for cross border trade processing will significantly reduce operational risk and offer a greater level of security for China investment managers when they invest in offshore markets.”

Increased automation offers significant improvement in operational risk management, reduced error rates and increased efficiency. Users of the interface will be able to access their Hundsun order management system, and the link to Omgeo, in Mandarin.  This feature is expected to resonate well with local market participants.

“Omgeo has been dedicated to the Chinese market for several years,” says Tim Keady, Managing Director, Global Sales and Relationship Management at Omgeo. “By partnering with Hundsun, we aim to make it even easier for our clients in China to reap the benefits of central matching. Omgeo strives to provide the proper balance between global expertise and localized practices and this agreement is a natural extension of that goal.”

Development of the Omgeo CTM/Hundsun interface will start later this year and a solution will be available in 2010.