Omgeo and YSS Tech Partner To Increase Post-Trade Automation In Investment Managements Firms In China

Omgeo, the global standard for post-trade efficiency, announced July 11 that it has signed a partnership agreement with Shenzen YSS Tech Info-tech Co, a leading provider of financial technology to China’s financial services industry, in order to bring increased levels of automation to international equity and fixed income trade processing for Chinese investment managers.

With this partnership, Omgeo and YSS Tech have agreed to provide seamless, automated processes from execution to settlement by building interfaces linking Omgeo Central Trade ManagerSM (Omgeo CTM) with YSS Tech’s GoldenFinger, a financial valuation management product, and SPOMS, an investment transaction management solution. Omgeo CTM is the strategic platform for the central matching of cross-border and domestic equity and fixed income transactions. With this solution, investment managers in China will be able to increase settlement efficiency and reduce the operational risk associated with cross-border investment transactions, from execution and straight through to settlement.

Clients who choose these solutions will be able to access all of the benefits of Omgeo CTM directly from the YSS Tech’s GoldenFinger and SPOMS user interfaces in their local language. The joint offering is fully integrated and will further enable Chinese investment managers to seamlessly connect with Omgeo’s existing global community of 6,500 brokers and investment managers worldwide.

Omgeo has gained significant momentum in the Chinese market since its entry in 2009. As of April 2012, eight out of the top 10 QDII funds, as ranked by chinafund.cn, use Omgeo CTM to facilitate the matching of their cross border trades. As focus on offshore opportunities continues to increase, local investment managers are increasingly seeking effective methods to eliminate operational risk and increase capacity. With Omgeo CTM, clients are able to access and match trades centrally with the world’s largest connected group of central matching trade counterparties.

Vice President of YSS Tech’s Product Center, Chen Zhenfei, said, “YSS Tech is delighted to collaborate with Omgeo, in working together to provide users in the industry with more comprehensive settlement automation for offshore transactions.” Chen added, “Because the solutions link YSS Tech’s financial valuation system and investment transaction management system for Omgeo CTM through a data bridge, the design provides a solution for users of either YSS product as well as those using both products at the same time.”

“We welcome YSS Tech to our global community of partners,” said Nellie Dagdag, executive director, sales and solution delivery, Asia Pacific at Omgeo. “The partnership with YSS Tech will enable Chinese investment managers to support increased offshore activity through end-to-end automation on a straight-through-processing model and demonstrates Omgeo’s ongoing long-term commitment to the Chinese market.”