QRMO Adopts Omgeo CTM
Quality Risk Management & Operations (QRMO) has continued to show its commitment to investing in the best that technology has to offer. Recently, it has agreed to implement Omgeo Central Trade ManagerSM (Omgeo CTM), which is a globally recognized, strategic platform for the central matching of cross border and non-U.S. domestic equity and fixed income transactions. Central trade matching results in a reduction in trade failures and operating costs of up to 70 percent; meanwhile same day affirmation (SDA) rates can soar to 94 percent. In addition, Omgeo CTM provides each counterparty instant access to trade exceptions, allowing them to view the status, instantly amend a trade in order to enable matching or to cancel or reject a trade. Such straight through processing (STP) greatly reduces manual intervention, thus enhancing efficiency and reducing operational risk.
Albert Chiu, President of QRMO, states, “We chose Omgeo CTM as it helped us move from our internal semi-automated matching systems to a more robust, scalable and institutional-grade platform that is globally recognized by fund managers, investors and market participants alike as the gold standard in fully automated trade matching technology. Nearly 70 percent of QRMO’s daily trade confirmations will be processed directly by Omgeo CTM and the system can easily support QRMO’s rapidly increasing number of trades being processed among its growing client base.”
QRMO’s hedge fund clients will leverage the Omgeo CTM service, allowing them to take advantage of advanced trade matching capabilities while instilling confidence in the due diligence process with investors and prospective investors.
Marianne C. Brown, President and CEO of Omgeo, added “We view operational and counterparty risk mitigation as one of our key industry mandates. In QRMO we have found an important partner on this quest; together we hope to be able to significantly increase levels of automation in Asia, while reducing risk and cost. The global hedge fund community continues to be one of our fastest growing client segments, with a 20 percent Year Over Year growth since 2005. We remain committed to servicing this key client segment with volume insensitive and secure services globally.”