GBST Holdings Limited (ASX: GBT), "GBST", a global provider of securities transaction and fund administration software for the financial services industry, announces that it has worked with Omgeo to develop and certify its Syn~ application with Omgeo’s Central Trade Manager (CTM).
The next generation GBST Syn~ application, an adaptable, workflow driven and easily integrated, rules-based solution now provides clients with Omgeo CTM connectivity, providing an automated solution for the central matching of cross-border and domestic transactions.
Market participants are increasingly under pressure to lower costs and increase operational efficiency in today’s challenging economic environment. By pairing Omgeo CTM with GBST Syn~’s powerful workflow capabilities, clients can increase same-day affirmation rates, reduce costly manual intervention, and minimise exceptions and user intervention, even for ‘outlier’ scenarios.
Denis Orrock, Chief Executive of Capital Markets, GBST said: “The certification of Syn~ by Omgeo demonstrates our commitment to our global client base to provide greater control in post-trade processing and transparency.”
“Our strategic partnership with GBST will enable seamless connectivity to Omgeo CTM and a more streamlined post-trade environment for our mutual, global clientele. Increasing regulation and cost pressures on middle office operations are driving the need for greater automation and efficiency,” said Andrew Hughes, Executive Director, Omgeo. “GBST’s link to Omgeo CTM offers broker dealers a more integrated post trade, pre settlement workflow so that the benefits of central trade management can be quickly realized.”
To help clients achieve additional post-trade efficiency levels and enhanced connectivity, GBST Syn~ also seamlessly interfaces to Omgeo Oasys Direct and Omgeo Alert.
“The integration of Syn~ and CTM is timely as settlement cycles in major markets e.g. Europe and US are being shortened, requiring market participants to have the most efficient post trade processes and technologies”, concluded Denis.