New York/Boston/London/Hong Kong/Singapore — 23 July 2014 — Omgeo, the global standard for institutional post-trade efficiency, today announced a partnership with London Stock Exchange Group’s (LSEG) UnaVista to support tri-party matching of synthetic equity swaps between executing brokers, prime brokers and investment managers. The offering links UnaVista, a global hosted platform for all matching, validation and reconciliation needs, with Omgeo Central Trade ManagerSM (Omgeo CTM), Omgeo’s strategic platform for the central matching of cross-border and domestic equity, fixed income, repos, exchange traded derivative and equity swaps transactions.
The Omgeo CTM/UnaVista solution combines the respective workflows of the two platforms, automatically connecting investment managers on Omgeo CTM with their prime broker counterparties on UnaVista to match the economic details of the swap, and to communicate and match allocation breakdowns.
The solution also supports matching of the give-up (hedge) trade between the executing broker and the prime broker. In addition to UnaVista’s existing community of prime brokers and executing brokers, the integrated solution allows executing brokers already on Omgeo CTM to leverage their existing interface to deliver the give-up to the prime broker. Finally, the combined workflow provides investment managers with new insights into the give-up status of swaps trades and allows them to view all of their transactions within the Omgeo CTM environment. The solution currently supports any swap with an equity underlier.
By adopting this joint solution, users ensure the terms of equity swap deals are clear to all parties to the trade while adding scalability to the synthetic equity swaps confirmation, allocation and matching processes. Users are able to better control their costs and reduce operational risk through post-trade best practice and exceptions-only workflows. The service also enables parties to match both legs of the trade on T+0 whilst providing additional consistency across equities and equity swaps for investment managers.
Mark Husler, Global Head of Product Management at LSEG, commented, “This new partnership allows us to combine Omgeo’s buy-side network with UnaVista’s prime broker network, providing one of the largest CFD communities on the market. The solution creates a scalable platform for all parties and the flexibility to meet multiple different needs.”
“We listen attentively to our clients, striving to deliver best-in-class solutions to help them better respond to the evolving market environment”, noted Tim Keady, Managing Director of Sales and Solutions Delivery for Omgeo and Chief Client Officer at DTCC. “This new partnership between Omgeo and UnaVista brings greater transparency and simplicity to the tri-party matching process, allowing users to instantly access multiple prime brokers globally.”
Formed in 2001, Omgeo automates trade lifecycle events between investment managers, broker/dealers and custodian banks, enabling 6,500 clients and 80 technology partners in 52 countries around the world to seamlessly connect and interoperate. By automating and streamlining post-trade operations, Omgeo enables clients to accelerate the clearing and settlement of trades, and better manage and reduce their counterparty and credit risk. Omgeo’s strength lies within its global community and its ability to create solutions to enable clients to realize clear returns on their investment strategies, while responding to changing market and regulatory conditions. Across borders, asset classes, and trade lifecycles, Omgeo is the global standard for operational efficiency across the investment industry. Omgeo is a subsidiary of The Depository Trust & Clearing Corporation (DTCC).
About London Stock Exchange
London Stock Exchange Group (LSE.L) is a diversified international exchange Group that sits at the heart of the world's financial community. The Group can trace its history back to 1801.
UnaVista is the Group’s hosted matching and reconciliation platform offering clients trade matching and confirmation services, regulatory reporting solutions, reconciliations and data solutions. Customers also have access to an extensive range of real-time and reference data products, including Sedol, Proquote and RNS, as well as access to over 200,000 international equity, bond and alternative asset class indices, through LSEG’s world leading index provider, FTSE.
The Group operates a broad range of international equity, bond and derivatives markets, as well as post trade and risk management services such as CC&G, the CCP and Monte Titoli, the European settlement business. The Group is also a majority owner of leading multi-asset global CCP, LCH.Clearnet.
Headquartered in London, United Kingdom with significant operations in Italy, France, North America and Sri Lanka, the Group employs approximately 2,800 people. Further information on London Stock Exchange Group can be found at: www.lseg.com