GBST Holdings has announced an automated trade matching solution joint offering with Omgeo has gone live with its first institutional brokerage client.
Securities transaction and fund administration software specialist GBST had been using the previous Omgeo solution, OASYS GlobalSM, GBST’s CEO of capital markets, Denis Orrock, told InvestorWeekly.
The new integrated solution links GBST Shares, a back-office equities system, with post-trade processing specialist Omgeo’s Central Trade ManagerSM – an automated solution for the central matching of tradeable assets. These include cross-border and domestic equity, fixed income, exchange traded derivative (futures and listed options) and contracts for difference trades, the firms stated.
Clients will be able to access Omgeo’s functionality directly through the GBST Shares system, including same-day affirmation rates, real-time central matching capabilities and increased capacity.
The joint venture solution will allow improved processing speeds for trades, Mr Orrock said.
“We have already commenced migrating our client base to a solution which provides greater control in post-trade processing and transparency around the world,” he said.
“Our initial implementation here in Australia has achieved faster processing and increased capacity for one of the industry’s major institutional players and we have great confidence that our global clients will be sharing these benefits in the near future.”
The GBST Shares solution has been certified to the latest Omgeo CTM specifications. It has a connectivity bureau option, which GBST said is a hosted alternative for Omgeo CTM clients, eliminating the need to establish dedicated leased lines and maintain internal MQ operations.
It also features event-based ‘push’ technology that enables trade status messages to be sent proactively between the client’s MQ server and the Omgeo CTM host throughout the electronic trade confirmation process, according to GBST.
GBST anticipated migrating its legacy Omgeo OASYS GlobalSM system to the new Central Trade ManagerSM system by June this year.
