Fund managers improve automated trade matching

A first fund management company has begun using Omgeo to dramatically reduce risk in trade matching.

The รบ24 billion $37 billion Royal London Asset Management is the first fund management company in the world to centrally match cross-border live trades using a product by Omgeo that is expected to go live among fund managers and brokers in the Asia-Pacific in September.

Julian Baines, investment servicing manager at Royal London, hopes to cut the time it takes to match trades with brokers from 20 hours to three by adopting Omgeo Central Trade Manager, a pre-trade matching service using an investment accounting system called Icon provided by Thomson Financial, in the process integrating front - and back-office systems.

Royal London kicked off sending its first CTM trades to broker Dresdner Kleinwort Wasserstein. I've...

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