South Korea-based Trustron Asset Management has selected Omgeo Central Trade Manager (CTM) to handle its domestic post-trade equities activity, the firm has announced.
The adoption of CTM will allow the firm to standardize and automate its post-trade settlement and matching operations. It will also utilize Omgeo's web-based settlement notification service Alert. A number of other Korean firms also use the platform, which also eases settlement communications between asset managers and custodian banks.
"We are pleased to announce our partnership with Omgeo. Since implementing Omgeo CTM and Alert, we have seen a significant reduction in our workload, reducing operational risks, resource demands and manual processes in both the confirmation/affirmation Standing Settlement Instruction data enrichment processes," says Lee Sung Won, senior EVP and head of the management strategy department at Truston. "We believe that Truston is now a few steps ahead of its competitors, and we are expecting increased investment opportunities in the near future."
Omgeo is owned by the US Depository Trust and Clearing Corporation (DTCC).
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