The addition of 150 brokers/dealers and 280 investment managers to Omgeo Central Trade Manager (CTM) over the year represented growth of 33 per cent.
The company attributed the growth to an “increased desire for automated, post-trade solutions” as well as the completion of a migration of clients from Omgeo’s legacy local trade confirmation service, Omgeo OASYS Global.
“Over 500 broker/dealer clients successfully migrated to Omgeo CTM during the multi-year migration which concluded in June 2013,” said a statement.
“These users now benefit from a centralised, best practice model for trade matching, which is widely accepted as the most efficient way to process trades,” it said.
Omgeo parent company DTCC's chief client officer, Tim Keady, said community growth was a “key priority because it increases post-trade efficiency for all Omgeo CTM users”.
“A number of factors contributed to last year’s increase, including our continued focus on strengthening our presence across Asia-Pacific and Latin America, as well as broadening our asset class coverage to include exchange-traded derivatives,” said Mr Keady.
“More than ever before, firms are seeking to implement best practices across trading and post-trade operations, and regulatory and industry initiatives such as the move towards shorter settlement cycles continue to drive adoption of robust, automated processes. We expect this to continue in 2014,” he said.
The Australian Securities Exchange released a consultation paper about T+2 settlement cycles this week.
Omgeo CTM is a central matching platform for cross-border and domestic equity, fixed incomes, exchange-traded derivate and contracts-for-difference transactions.
