Omgeo, the global standard for post-trade efficiency, today announced that Fortune SGAM, one of China’s leading investment management firms, is the first company to go live on the Omgeo-Hundsun interface for cross border post-trade processing. The Omgeo-Hundsun interface was established in June 2010 after the two companies entered into a global alliance agreement the previous year.
Fortune SGAM, a QDII fund manager, invests in domestic and international markets. By adopting the Omgeo-Hundsun interface, Fortune SGAM will be able to automate its cross border trade processing using Omgeo Central Trade Manager (Omgeo CTM) accessed via the existing Hundsun order management system (OMS) in its local language. In addition, Fortune SGAM has adopted Omgeo ALERT, the industry’s largest and most compliant web-based global database for the maintenance and communication of standing settlement and account instructions (SSI) for multiple asset classes. With this solution, Fortune SGAM’s trades within Omgeo CTM will be automatically enriched with accurate and compliant SSI data from Omgeo ALERT.
Fortune SGAM will gain a number of benefits from the Hundsun-Omgeo interface. With access to Omgeo’s 6,000 strong global community of broker-dealers and investment managers, Fortune SGAM will be able to centrally match the trade details of their cross border transactions, thereby achieving same or next day settlement across multiple time zones. By opting for the settlement notification feature in Omgeo CTM, Fortune SGAM will also have the ability to create settlement messages in industry standard formats and transmit them to their custodians or other third parties via the Swift network. This enables complete middle to back office straight through processing (STP) to occur on trade date to promote data accuracy and the timely settlement of global transactions.
Helen Huang, deputy general manager of FS Fund stated, “Through Omgeo CTM and other related Omgeo services, we have realised highly automated cross border trading, improved our clearing efficiency, reduced our operational risk and lowered the failure ratio of our trading, which enables us to easily cope with peak trading periods.”
“We welcome Fortune SGAM to our global community,” said James E Drumm, executive director, Asia Pacific, Omgeo. “Moving to a fully automated post-trade environment will enable Fortune SGAM to maintain scalability and manage operational risk as cross border volumes grow. We are very pleased to partner with Hundsun to provide the interface that makes this possible.”
“Through our seamless integration with Omgeo CTM, Hundsun Technologies’ OMS clients will benefit from a streamlined operational workflow and improved efficiency, in addition to the advantage of a localised Mandarin Chinese interface for trade processing and exception resolution,” said Liao Zhang Yong, head of investment management, Hundsun Technologies Inc.