If the last 10 years were known as the “front-office decade” where buy- and sell-side firms were preoccupied with improving the functionality and efficiency of their front-office technology, the second decade of this century is likely to be the domain of the back office. No other business functions encapsulate the drive to increase back-office efficiencies and robustness than those of reconciliation and exception management, and it is in this realm that Omgeo leads the industry. Boston-based Omgeo provides two crucial pieces of the infrastructure for the global securities industry: the wherewithal for investment managers to communicate and agree the economic terms of trades with their executing brokers through services including Omgeo Central Trade Manager (CTM), Oasys Global and TradeSuite; and a service that has become the industry standard for publishing, storing and distributing bank settlement instructions between counterparties. In the event that counterparties disagree transaction terms, Omgeo has developed an exception-management process that highlights the offending transaction and introduces a workflow that allows both parties to see the state of the transaction and understand the most lucid remedy to resolve that exception.
1 Omgeo (33.4%)
2 SmartStream (28.9%)
3 Fiserv (23.5%)
Anthony and James delve into how the systematic internalizer regime is shaping up, and then examine the regtech sector.Subscribe to Weekly Wrap emails