The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

Fortune SGAM Adopts Omgeo Alert and Omgeo CTM Via Hundsun

Share article

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.

Related content

WEBINAR

Upcoming Webinar: Data Standards – progress and case studies

Date: 10 November 2020 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes Global data standards and identifiers are essential to business growth, market stability and cost reduction – but they can be challenging to implement, while a lack of consistency across jurisdictions has presented obstacles to global take-up. However, with regulators...

BLOG

AML Penalties Increase in APAC as Regulators Rev their Engines

By the end of July 2020, AML, KYC and sanctions fines for global financial institutions reached $5.6 billion, according to the latest findings from client lifecycle management specialist Fenergo. Notably however, although overall penalties were actually down by a third compared to the same period last year, fines issued by APAC regulators related to AML...

EVENT

TradingTech Summit London

The TradingTech Summit in London brings together European senior-level decision makers in trading technology, electronic execution and trading architecture to discuss how firms can use high performance technologies to optimise trading in the new regulatory environment.

GUIDE

Regulatory Data Handbook 2020/2021 – Eighth Edition

This eighth edition of A-Team Group’s Regulatory Data Handbook is a ‘must-have’ for capital markets participants during this period of unprecedented change. Available free of charge, it profiles every regulation that impacts capital markets data management practices giving you: A detailed overview of each regulation with key dates, data and data management implications, links to...