Automatic central matching of equity and bond trades to enhance Metzler’s trade process
Omgeo, a provider of post-trade, pre-settlement trade management software, has implemented Omgeo Central Trade Manager at German private bank Metzler Asset Management, to automate the bank’s confirmation and allocation part of the trade lifecycle, involving investment managers, broker/dealers and custodian banks.
Since implementation, Omgeo Central Trade Manager (CTM) has reduced operational risk and increased efficiency in Metzler’s trade processing by the automatic central matching of equity and bond trades, said Omgeo.
The firm has also gained access to Omgeo CTM’s automatic settlement notification, which via a Swift message enables the trade notification to be sent automatically to the custodian bank. Also, through the use of Omgeo Alert, these settlement notifications can be automatically enriched with standing settlement and account instructions (SSI) without requiring any manual intervention, added Omgeo.
Oliver Herrmann, regional director for Central Europe at Omgeo, said: We are pleased that Metzler is experiencing firsthand the benefits of automating the trade lifecycle through Omgeo CTM. As a result of recent market turmoil and high profile counterparty failures, we have seen a large increase in interest around trade processing automation in the German marketplace and beyond.