DTCC Connection

Sep 11, 2014 • DTCC Connection

Omgeo Partners with LSE’s UnaVista to Bolster Matching of Synthetic Equity Swaps

by Nadine Rettinger
Omgeo and UnaVista connection facilitates tri-party matching by combining workflows

 

Omgeo, together with London Stock Exchange Group (LSEG), now supports tri-party matching of synthetic equity swaps between executing brokers, prime brokers and investment managers. The offering links LSE’s 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.

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 trade date (T+0) while providing additional consistency across equities and equity swaps for investment managers.

 

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