• Connection facilitates tri-party matching
• Allows customers to access multiple prime brokers globally
• Solution creates scalable and flexible platform
London Stock Exchange Group’s UnaVista and Omgeo, the post-trade solutions provider, today announced a partnership to support tri-party matching of synthetic equity swaps between executing brokers, prime brokers and investment managers. The new offering links UnaVista, LSEG’s global hosted platform for matching, validation and reconciliation, with Omgeo Central Trade Manager (Omgeo CTM), Omgeo’s strategic platform for the central matching of cross-border and domestic equity, fixed income, repos, exchange traded derivative and equity swaps transactions.
The Omgeo CTM and UnaVista solution combines the respective workflows of the two platforms, automatically connecting investment managers on Omgeo CTM with the prime broker counterparties on UnaVista, to match details of the swap and communicate any match allocation breakdown. Executing Brokers can now also give-up trades to their prime broker via either Omgeo CTM or UnaVista and receive positive affirmation through either system.
By adopting this joint solution, users ensure the terms of equity swap deals are clear to all parties to the trade, while adding scalability to the synthetic equity swaps confirmation, allocation and matching processes. Users are able to better control their costs while reducing operational risk through post-trade best practice and exceptions-only workflows. The service also enables parties to match both legs of the trade on T+0, whilst providing additional consistency across equities and equity swaps for the investment managers.
Mark Husler, Global Head of Product Management at LSEG, said:
“This new partnership allows us to combine Omgeo’s buy-side network with UnaVista’s prime broker network, providing one of the largest CFD communities on the market. The solution creates a scalable platform for all parties and the flexibility to meet multiple different needs.”
Tim Keady, Managing Director of Sales and Solutions Delivery at Omgeo and Chief Client Officer at DTCC, said:
“We listen attentively to our clients, striving to deliver best-in-class solutions to help them better respond to the evolving market environment. This new partnership between Omgeo and UnaVista brings greater transparency and simplicity to the tri-party matching process, allowing users to instantly access multiple prime brokers globally.”