The system provides collateral management and portfolio reconciliation for financial community
Omgeo, a provider of post-trade and pre-settlement trade management software, has announced the availability of its counterparty risk management system, comprised of Omgeo ProtoColl, the firm’s automated collateral management offering, and Omgeo CrossCheck, which provides automated portfolio reconciliation.
According to the company, Omgeo ProtoColl provides a collateral and margin management workflow system for clients to identify, negotiate and satisfy daily margin calls. By using this system, clients gain insight into their firms’ exposures and risk profiles. The offering handles all margining requirements, including over-the-counter derivatives, repos, securities lending, leveraged trading, emerging markets and loan facilities.
Omgeo CrossCheck, another component to company’s counterparty risk management system, is a centrally-hosted service that automates the comparison of portfolios of derivatives between investment managers, broker/dealers and other parties.
Tim Lind, managing director of strategic planning at Omgeo, said: Automating the processes around collateral management and portfolio reconciliation allows the financial community to proactively handle every aspect of their portfolios of open transactions and collateral balances. The entire industry stands to benefit from firms that prioritize counterparty risk management and we are pleased to enable it.