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

A-Team Insight Blogs

Omgeo ALERT Furthers Market Leadership with More Than 500,000 Funds Represented Globally

Omgeo, the global standard for post-trade efficiency, today announced that Omgeo ALERT, the world’s largest and most compliant web-based global database for the maintenance and communication of standing settlement and account instructions (SSI), has experienced unprecedented client growth going into 2011 with over 1,700 clients globally.

As a result of continued market turbulence and regulatory uncertainty, operational risk management and compliance with market standards remain key priorities for the global financial community. By automating manual, error-prone processes and ensuring compliance with Securities Market Practice Group (SMPG) local market standards worldwide, Omgeo ALERT helps firms to mitigate operational risk, accelerate the trade life cycle and ensure their trades are ready for settlement leveraging SSI data that is accurate and compliant.

Today, Omgeo ALERT contains data for more than 500,000 funds and manages about 5 million settlement instructions. On average, brokers retrieve 40,000 counterparty account instructions per day. Initially an equities-only solution, Omgeo ALERT now offers expanded asset class coverage, including fixed income, exchange traded and OTC derivatives, as well as foreign exchange instruments.

Launched three decades ago, Omgeo ALERT was created as a result of the community’s demand for a solution that US securities traders could adopt to transmit settlement instructions electronically to their trading counterparts. The buy-side was instrumental in turning Omgeo ALERT, the first post-trade SSI solution on the market, into a market standard SSI database and, as the industry became more automated, Omgeo ALERT responded with complementary functionalities.

Steve Matthews, COO of Omgeo, comments: “Omgeo ALERT’s growth over the past several decades demonstrates its invaluable benefit to the global marketplace. We remain committed to maintaining ALERT to the highest standards while ensuring that all data stored within ALERT is complete and accurate. Our Quality Data Initiative (QDI) is an on-going effort, staffed with full time associates, where the primary focus is on ensuring ALERT data quality.”

Peter Johnston, managing director at Goldman Sachs, says: “Compliance with local market standards and regulatory initiatives is more important than ever in today’s changing environment. Accurate ALERT SSI data to comply with these local market standards and regulatory initiatives is a critical component for ensuring local settlement across the globe.”

Simon Haggerty, head of equities operations and securities utility at UBS, adds: “Using Omgeo ALERT helps us to efficiently service our clients while also enabling us to manage and reduce operational risk. With added coverage across multiple asset classes and a commitment to data quality, Omgeo ALERT solidifies its crucial role in the marketplace.”

Related content

WEBINAR

Recorded Webinar: Solvency II – The Final Data Management Challenges

This webinar has passed, but you can view the recording by registering here. With the Jan 2016 deadline fast approaching, what should you be doing in the last quarter of this year to make sure your data management operations are ready? Speakers: Sponsors:

BLOG

CUSIP Calls on Financial Institutions to Get More Involved in Data Standards Development

CUSIP Global Services is working in partnership to accelerate data standards development in emerging markets including digital securities and ESG investing. The standards organisation is also working with the ANNA Service Bureau to improve coverage and quality of ISINs, and with regulators and the Derivatives Service Bureau on the introduction of the UPI later this...

EVENT

Virtual Briefing: ESG Data Management – A Strategic Imperative

This briefing will explore challenges around assembling and evaluating ESG data for reporting and the impact of regulatory measures and industry collaboration on transparency and standardisation efforts. Expert speakers will address how the evolving market infrastructure is developing and the role of new technologies and alternative data in improving insight and filling data gaps.

GUIDE

Entity Data Management Handbook – Seventh Edition

Sourcing entity data and ensuring efficient and effective entity data management is a challenge for many financial institutions as volumes of data rise, more regulations require entity data in reporting, and the fight again financial crime is escalated by bad actors using increasingly sophisticated techniques to attack processes and systems. That said, based on best...