Fiserv enables Daiwa to be First Broker Live on Omgeo CTM in Japan
Fiserv, Inc. (NASDAQ: FISV), the leading global provider of financial services technology solutions, announced October 12 that Daiwa Securities Capital Markets is the first broker in Japan to go live with TradeFlow™ from Fiserv and Omgeo Central Trade ManagerSM (Omgeo CTM). By adopting the joint offering, Daiwa will take advantage of Omgeo CTM’s central matching capabilities from their TradeFlow platform in order to improve same day affirmation rates, reduce operating costs and decrease trade failures.
Prior to moving to Omgeo CTM, Daiwa was using the Omgeo OASYS GlobalSM platform. The migration to Omgeo CTM will allow Daiwa to leverage the central matching platform to accelerate the trade process and move their trades more quickly to settlement, lowering costs and mitigating operational risks. In addition, Omgeo CTM will double Daiwa’s processing capacity to 10,000 trades a day, an increase from the previous 5,000 trades it was able to process, with a faster turnaround time than ever before. With Omgeo CTM’s flexible and non-sequential workflow, Daiwa will be able to participate in the resolution of exceptions without being solely dependent on an investment manager for exception resolution.
“We started working with Fiserv over six years ago in our London branch and continue to do so because of their ability to understand our business needs and provide local onsite expertise,” said Hirofumi Iida, Deputy General Manager, Global Equity Trading Department, Daiwa. “With the Fiserv TradeFlow for Omgeo CTM implementation, our clients can take a proactive role in the matching process through to exceptions management.”
“The faster Daiwa can match and reconcile trades, the quicker they can reduce costs and settlement failure,” said Cheryl Nash, senior vice president, Strategic Marketing and Business Development, Investment Services, from Fiserv. “TradeFlow for Omgeo CTM enables financial organizations to effectively manage the settlement process and review matching status for greater responsiveness to exceptions and increased efficiency.”
About Daiwa Securities Capital Markets Co. Ltd.
Daiwa Capital Markets (www.daiwacm.com) is the wholly-owned investment banking arm of Daiwa Securities Group. The award winning firm has more than 4,000 employees worldwide and provides integrated financial services including brokerage, derivatives, capital raising, IPOs, M&As and other creative financial solutions to clients through a network of more than 20 offices in Asia, the Middle East, Europe, North America and Asia.
Daiwa Securities Group (www.daiwa-grp.jp/english/) is one of the largest brokerage and banking groups in Japan and employs more than 16,000 professionals worldwide providing comprehensive financial services, including retail brokerage, investment banking and asset management. Daiwa Securities Group has been in continuous operation in the financial services industry since 1902.