Omgeo, a provider of post-execution trade management services, has announced that Mackenzie Financial has begun to process both domestic and cross-border trades via a single interface, Omgeo Central Trade Manager.
The investment manager’s Canadian domestic trades matched via Omgeo CTM are sent directly to the Canadian Depository for Securities (CDS) for settlement, enabling an efficient, straight through process and facilitating compliance with Canada’s NI 24-101 Institutional Trade Matching Mandate.
Omgeo Central Trade Manager (Omgeo CTM) is a platform for centrally matching equity and fixed income, domestic and cross-border trades. It offers exception-only processing, real-time settlement instruction enrichment and automated settlement notification messaging to custodians and settlement agents. Omgeo CTM enables clients to achieve same or next-day settlement in a cross-border environment across multiple time zones. The interface between Omgeo CTM and the CDS provides fully automated messaging between the two systems to enable the electronic pass-through of matched trades on trade date.
Timothy Keady, managing director of global sales at Omgeo, said: We are delighted that Mackenzie Financial has gone live on Omgeo CTM. As a leader in operational effectiveness in Canada, they will reap the benefits of reduced risk and increased efficiency achieved by central matching. FirstEnergy Capital, Penson Financial Services Canada, UBS Securities Canada and Orion Securities have all played a pivotal role in ensuring that the integration process has gone so smoothly.