About a-team Marketing Services

A-Team Insight Blogs

Omgeo Upgrades Alert Database with Expanded Coverage and Compatibility Tests

Subscribe to our newsletter

As hinted by Steve Matthews, managing director of product at Omgeo, when he spoke to A-Team Group last month, the post-trade specialist has now added new functionality to its standing settlement and account instructions (SSI) database, Alert. The new functionality, which has been dubbed Omgeo Alert New Markets and Validations, includes expanded instrument coverage and enhanced market rules and validations. The functionality also means the web-based global SSI database is now compatible with approximately 150 depositories, says the vendor.

“Our objective was to create the most compliant rules engine on a market by market basis,” explains Matthews. “In the first month of availability, the new enhancements to Omgeo Alert have provided excellent momentum. From significant uptake in countries around the globe including Greece, the Philippines, New Zealand, Spain, Indonesia and Brazil, to the successful addition of new derivative and fixed income product types marks a tremendous step for Alert. This momentum complements our overall product strategy of extending our value proposition geographically and across asset classes.”
The expanded asset class coverage includes more granularity in fixed income instruments and the addition of exchange traded and OTC derivatives. According to Omgeo, there is more stringent validation of market specific settlement instructions, aimed at providing improved data quality to brokers and custodians reducing trade failures.

The new validations include global standards established by the Securities Markets Practice Group (SMPG) and standards defined by members of Omgeo’s global investment manager and broker-dealer community. Going forward, all data entered into Omgeo Alert will align with standards established by SMPG or defined by Omgeo’s client community in the event a standard is not already established by SMPG, says Matthews.

The release is aimed at reducing the ambiguity of data requirements for local markets to ensure adherence to consistent market standards. The inclusion of tighter validation rules in the new release means that instructions are more unified and streamlined overall, says the vendor.

Omgeo has been focused on upping its game in the data management space over recent months and has committed time and resources to the world of SSIs. In April, Omgeo appointed three new executives to its European product team to focus on this area: State Street’s Bill Meenaghan and Janet Coughlan and Steve Higgins, both from UBS. Coughlan is now in charge of strategic initiatives for Omgeo Alert, whereas Higgins and Meenaghan have both been appointed product managers in the data management space.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: In data we trust – How to ensure high quality data to power AI

Artificial intelligence is increasingly powering financial institutions’ processes and workflows, encompassing all parts of the enterprise from front-office to the back-office. As organisations seek to gain a competitive edge, they are trialling the technology in variety of ways to streamline and empower multiple use cases. Some are further than others along the path to achieving...

BLOG

Modern Data Landscape Comes Under Scrutiny at Data Management Summit London

From data products and marketplaces to the new challenges of regulatory compliance and the latest thinking on unstructured data, A-Team Group’s Data Management Summit London 2025 took in the full breadth of topics that chief data officers and their teams are dealing with daily. With a line up of C-suite executives and expert speakers from...

EVENT

AI in Capital Markets Summit New York

The AI in Capital Markets Summit will explore current and emerging trends in AI, the potential of Generative AI and LLMs and how AI can be applied for efficiencies and business value across a number of use cases, in the front and back office of financial institutions. The agenda will explore the risks and challenges of adopting AI and the foundational technologies and data management capabilities that underpin successful deployment.

GUIDE

Entity Data Management Handbook – Sixth Edition

High-profile and punitive penalties handed out to large financial institutions for non-compliance with Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations have catapulted entity data management up the business agenda. So, too, have industry and government reports on the staggering sums of money laundered on a global basis. Less apparent, but equally important, are...