Omgeo, the global standard for post-trade efficiency, today announced that it has been named âBest Exceptions and Reconciliation Management Providerâ in the eighth annual Waters Rankings. Winners of Waters Rankings were selected by the more than 1,200 survey respondents, including industry participants and readers of Waters magazine, a financial IT publication.
Omgeo won the award for its full suite of exceptions and reconciliation management products that allow financial services firms to efficiently process and reconcile trades across multiple asset classes. In the post-trade world, exception processing represents a workflow system that allows firms to identify potential trade errors in exception mode, while allowing error-free trades to move on to the next stage in the trade lifecycle.
Omgeoâs exceptions and reconciliation management solutions include:
â¢ Omgeo ALERT, the industryâs largest and most compliant web-based global database for the maintenance and communication of accurate and validated equity, fixed income, derivatives and FX standing settlement instructions (SSI), minimizes exceptions that can occur in the settlement process. With an on-going commitment to data quality, Omgeo ALERT currently stores 3.6 million settlement instructions.
â¢ Omgeo Central Trade Manager (Omgeo CTM), the strategic platform for matching of cross-border and non-U.S. domestic fixed income and equity trades, allows clients to effectively reconcile their trades and focus on exceptions. Omgeo processes over 5 million trade details monthly via Omgeo CTM. Omgeo OASYS-TradeMatch links OASYS, the leading electronic trade allocation and acceptance service for U.S. securities, with Omgeo TradeMatch, the U.S. domestic central trade matching service. Like Omgeo CTM, OASYS-TradeMatch enables clients to reconcile trade data and focus on exceptions management.
â¢ Omgeo CrossCheck is a centrally hosted exception management solution that automates the comparison of portfolios of derivatives between investment managers, broker/dealers and custodians. CrossCheck provides daily buy-side to sell-side reconciliation for over 100,000 ISDA and ISMA positions, as well as collateral for 20 counterparties across the global markets.
John Burchenal, Managing Director of Market Growth at Omgeo, comments, âWe are delighted to have won this prestigious award, which demonstrates our committed efforts to delivering automation and standardization in the post-trade process. Being named No. 1 vendor of exceptions and reconciliation management solutions by a community of end-users and Watersâ readers demonstrates that Omgeo is a respected and crucial utility in the industry.â
Today, Omgeo has over 6,000 clients in 46 countries, including 3,200 investment managers, 2,600 broker/dealers and 300 custodian banks.