Brokers will be able to access Omgeo's central matching via the Chilean central depository.
Chilean regulator Securities and Insurance Supervisor (Superintendencia de Valores y Seguros, or SVS) has authorized the implementation of a joint trade matching service between Omgeo and the Chilean central depository, Depósito Central de Valores (DCV). The solution, which is currently in the testing stage, connects Omgeo Central Trade Manager (CTM) to DCV, enabling brokers to access the central matching capability of Omgeo CTM via DCV's institutional delivery system, SADE.
Omgeo CTM is a platform for the central matching of cross-border and domestic equity, fixed income, exchange-traded derivative and contract for difference transactions. The goal of Omgeo and DCV's joint matching solution is to automate the matching process in the Chilean markets, reducing the risk of trade failure.
"The SVS's approval of this solution will help DCV market participants reduce settlement risk by enabling automated communication with trade counterparts globally," says Fernando Yanez, CEO of DCV. "By improving the efficiency of our markets, Latin America's role in the global marketplace will only continue to increase."
Omgeo also offers links from its services to the Depository Trust & Clearing Corporation (DTCC), Canadian Securities Depository (CSD), Korean Securities Depository (KSD) and Japanese Securities Depository (Jasdec).
WatersTechnology attended the Futures Industry Association's annual conference in Boca Raton, Florida. These are the takeaways.Subscribe to Weekly Wrap emails
- The Insurgents: Fintechs Are Knocking Off Incumbents
- CFTC Commissioners Lash Out at EC Clearing Proposals
- Waters Wavelength Podcast Episode 113: IBM's Lund on Blockchain's Evolution
- Wrestling Over Competing Mifid II, GDPR Data Demands
- MarketAxess Banks on Asian Electronic Markets with BlackRock Partnership