About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Korean Investment Managers Now Processing Cross Border Transactions via Omgeo CTM/KSD Service Bureau

Subscribe to our newsletter

Omgeo today announced that the service bureau between the Korean Securities Depository (KSD), the central securities depository for South Korea, and Omgeo Central Trade Manager (Omgeo CTM) is now live and Korea Investment Trust Company and Shinhan BNP Paribas Asset Management are processing trades. The strategic partnership between Omgeo and KSD allows the Korean investment community to achieve greater levels of operational efficiency and automation in trade processing.

Through the service bureau, KSD enables Korean investment managers to electronically confirm the accuracy of trade details with their counterparties around the globe and automatically enrich them with standing settlement instructions (SSIs). Omgeo CTM is a single platform for the central matching of fixed income and equity trade details. Omgeo Alert is a web-based global database for the maintenance and communication of standing settlement and account instructions.

Additionally, Korean investment managers are able to receive a Copy for Information of matched trade details from any interested third party. The KSD and domestic Korean investment managers have access to Omgeo’s global network of trade counterparties.

JaiYoung Park, head of operations at Korea Investment Trust Company, commented: “It is absolutely critical for us to ensure we have automated processes in place as we look to maintain the utmost operational infrastructure. By leveraging the service bureau between Omgeo and KSD, we are certain that we are not only seeing best in class trade affirmation rates, but also that we are at the forefront of risk mitigation and operational efficiency.”

O Moon Kwon, managing director of Deposit Settlement Service Division of the KSD, said: “KSD is dedicated to transforming Korean cross border trade processing into a role model of operational efficiency. Working closely with Omgeo, we are pleased to see our first clients live and already seeing reduced operational and counterparty risk through automation.”

Tim Keady, managing director, global sales and relationship management for Omgeo, added: “Today’s global markets necessitate the utmost operational efficiency. KSD and Omgeo have partnered together to ensure operational risk mitigation for Korean investment managers through automation. This will no doubt help enable the future growth and success of the Korean securities market.”

Omgeo maintains strategic partnerships with and links to securities depositories around the world, notably the Depository Trust & Clearing Corporation (DTCC) in the US (also one of Omgeo’s parent companies), the Canadian Depository for Securities (CDS) and the Japan Securities Depository Inc (JASDEC). In addition, Omgeo has entered discussions with the Brazilian Clearing and Depository Corporation (CBLC).

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: ESG standards and taxonomies – A progress report

The development of ESG reporting and disclosure standards and taxonomies has progressed rapidly over the past few years, yet there is still no certainty on whether there will ever be measures that can be applied on a global basis. The EU leads the way in terms of ESG investment and regulation, ahead of Asia-Pacific and...

BLOG

Softwire QnA: Turning Great Ideas into Data Solutions for Institutions

UK-based Softwire offers its financial institution clients expertise in leveraging data to achieve their operational objectives. Data Management Insight spoke to Sean Judge, Softwire Client Director FS&I to find out more about the company. Data Management Insight: Hello Sean. Can you tell us when and how was Softwire created and how does it serve financial institutions? Sean Judge: Softwire...

EVENT

Buy AND Build: The Future of Capital Markets Technology

Buy AND Build: The Future of Capital Markets Technology London examines the latest changes and innovations in trading technology and explores how technology is being deployed to create an edge in sell side and buy side capital markets financial institutions.

GUIDE

ESG Handbook 2023

The ESG Handbook 2023 edition is the essential guide to everything you need to know about ESG and how to manage requirements if you work in financial data and technology. Download your free copy to understand: What ESG Covers: The scope and definition of ESG Regulations: The evolution of global regulations, especially in the UK...