OMGEO PARTNERS WITH YIELDBROKER ON AUSTRALIAN FIXED-INCOME MARKET PLATFORM

Posted October 29, 2008

SYDNEY – Trade processing, risk mitigation and operational services provider Omgeo LLC has partnered with Australian electronic trading platform Yieldbroker to provide streamlined fixed-income trade processing to Australian market participants.

“By linking our services, we are able to eliminate manual procedures in our clients’ trade lifecycles and significantly improve their straight-through processing [STP] rates for fixed-income processing,” says Julie Fe’aunati, Director of Relationship Management, Asia Pacific for Omgeo.

The partnership of Yieldbroker and Omgeo will streamline processing between investment managers and broker-dealers, thereby increasing efficiency in Australian debt markets. Yieldbroker will link its DEBTS platform to Omgeo OASYS Global, Omgeo’s trade confirmation service, eliminating the need to re-enter trade information between execution and processing. In addition, Omgeo Central Trade Manager will provide Yieldbroker users from the Australian market access more trade counterparties.

“As electronic trading becomes increasingly prevalent in the Australian market, STP is becoming more practical and we strongly support the solutions for debt markets developed by Yieldbroker and Omgeo,” says Paul Bide, Head of Debt Markets at Macquarie Bank.

Yieldbroker DEBTS accesses two-way markets from 10 leading price makers in over 700 Australian and New Zealand debt securities. “Yieldbroker has been actively working towards the automation of pre- and post-trade processing,” says Richard Swift, General Manager of Yieldbroker. “One of our key objectives is improving transactional efficiency and the mitigation of operational and compliance risk for all debt market participants. The cost of building and supporting this type of systems interface may have been prohibitive for individual bank participants; but now this shared offering will be immediately available to Omgeo and Yieldbroker’s clients.”