Omgeo and Hundsun Technologies Enter Global Alliance
Omgeo, the global standard for post-trade efficiency, and Hundsun Technologies Inc, the leading provider of IT solutions and services to China’s financial services industry, are pleased to announce that they have signed a global alliances agreement. The agreement is the first step to creating a certified interface between Omgeo Central Trade ManagerSM (Omgeo CTM) and Hundsun for China.
The interface between Omgeo CTM and Hundsun will enable Chinese investment managers to automate cross-border trade processing with Omgeo’s extensive global community of brokers and investment managers. Increased automation offers significant improvement in operational risk management, reduced error rates and increased efficiency.
Users of the interface will be able to access their Hundsun order management system, and the link to Omgeo, in Mandarin. This feature is expected to resonate well with local market participants.
“We are very pleased to partner with Omgeo in our continued drive to offer increased automation to the China financial marketplace.” said Mr. Hanlin Fang, the VP of Hundsun Technologies Inc. “Providing an end to end solution for cross border trade processing will significantly reduce operational risk and offer a greater level of security for China investment managers when they invest in offshore markets.”
“Omgeo has been dedicated to the Chinese market for several years,” said Tim Keady, managing director, global sales and relationship management at Omgeo. “By partnering with Hundsun, we aim to make it even easier for our clients in China to reap the benefits of central matching. Omgeo strives to provide the proper balance between global expertise and localized practices and this agreement is a natural extension of that goal.”
Development of the Omgeo CTM/Hundsun interface will start later this year and a solution will be available in 2010.