Omgeo, Swift collaborate for reduced settlement cycles

OPERATIONS AND STP

LONDON--Omgeo, the US-headquartered provider of trade management systems, is set to adopt SwiftNet, the standardized IP messaging platform, as its preferred messaging standard. However, implementation of the strategy is not expected to start for over 12 months.

SwiftNet was developed by Swift, a Belgium-based industry-owned cooperative supplying messaging services and interface software to the financial services industry. The platform is designed to streamline communications between investmen