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Risk Management

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Leslie Kramer
Leslie Kramer
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Omgeo Enhances Tradesuite and Introduces Omgeo Insite

Central repository houses electronic trade disclosures, eliminates paper and risk inherent with manual processes.

Omgeo, a post-trade solution provider, is launching its Omgeo TradeSuite 7.1, with several enhancements to the post-trade processing service. The company has also launched Omgeo inSITE, a web-based central data repository for confirm disclosures that works with the Omgeo TradeSuite Confirm Disclosure Service, a major component of Omgeo TradeSuite 7.1 that is a subscription-based service for broker/dealers that provides counterparties access to electronic confirm disclosures.

Omgeo TradeSuite automates messaging and settlement for equity and fixed income securities and is used for post-trade processing on domestic and cross-border trades of U.S. securities. By providing seamless connectivity from execution to settlement, utilizing fixed formats and translation between message standards, it provides a simple way to manage the complexity of post-trade processing. Broadridge Financial Solutions, is the first of Omgeo's global partners to link its Brokerage Processing Services (BPS) platform to Omgeo TradeSuite 7.1. BPS is Broadridge's multi-currency back-office processing system that supports real-time order management, trade processing and clearance and settlement of North American equities, mutual funds, and options. By linking to Omgeo TradeSuite 7.1, Broadridge's BPS clients enjoy seamless access to the post-execution Omgeo environment.

"Our strategic partnership with Omgeo provides our clients with end-to-end benefits in automated trade processing," said Charlie Marchesani, president, securities processing solutions US, Broadridge, in a press release. "The link between Broadridge's BPS and Omgeo TradeSuite provides our clients with the ability to leverage this integrated solution to gain efficiencies in the trade clearance and settlement process. Broadridge is committed to supporting our clients' business needs by continually enhancing our offerings either through development or strategic partnerships. We are pleased to continue to leverage our relationship with Omgeo to offer our clients industry-leading tools to assist them with mitigating risk, streamlining processes and lowering their operating costs," he said.

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