Published On: Tue, Aug 10th, 2010

Omgeo Makes Significant Progress in Fixed Income Trade Automation in Japan

Omgeo, the global standard for post-trade efficiency, announced August 9 significant progress in its fixed income automation initiative in Japan. Fixed income allocation processing over Omgeo’s cross-border and non-US domestic services, such as Omgeo CTM, has grown 110% in Japan in one year, when comparing volumes in June 2009 to those in June 2010.

Omgeo Central Trade ManagerSM (Omgeo CTM) enables firms to leverage central matching when processing cross-border and non-U.S. domestic fixed income and equity transactions, increasing the ability to achieve straight through processing (STP). Omgeo CTM minimizes the inefficiency and operational risk associated with manual trade processing.

The Japanese fixed income community has begun to address inefficiencies in trading and processing practices by moving toward a more automated environment. A growing community, Omgeo currently has 18 Japanese broker/dealers and 5 Japanese investment managers actively processing fixed income trades with Omgeo. With their use of Omgeo CTM, BlackRock Japan Co., Ltd. has been instrumental in helping to push the Japanese fixed income industry forward, by streamlining fixed income trade processing, increasing efficiency levels and reducing post-trade risk through integration with their multi-asset enterprise investment platform (Aladdin®) provided by BlackRock Solutions®.

“It is very important that the industry migrates to an automated trade confirmation process, across all products,” said Jeffrey Plein, Managing Director, responsible for BlackRock’s Japan’s operations. “In doing so, both managers and brokers will better be able to mitigate operating risk, while minimizing expenses. With Omgeo CTM, Omgeo provides an easy-to-implement solution, delivering good value to the Japanese fixed income community.”

“Omgeo has been committed to the Japanese market for over a decade,” added James E. Drumm, Executive Director, Asia Pacific, Omgeo. “The industry has spoken clearly about the need for central matching solutions that cover multiple asset classes, and we are pleased that Omgeo CTM answers that call. With firms like BlackRock Japan demonstrating leadership in automating fixed income trade processing, the Omgeo community and the Japanese fixed income market as a whole stand to benefit from reduced risk and increased efficiency.”

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