LONDON (HedgeWorld.com)–Users of Beauchamp Financial Technology FundManager now have an interface with Omgeo’s Central Trade Manager, allowing them automated access to Omgeo’s community of 6,000 brokers for central trade matching and settlement notification.
The Beauchamp FundManager, a portfolio management software system, connects through a message translation interface to the Omgeo CTM. Through the connection, client files are mapped to and from the Omgeo system, and trade details are processed in batch mode.
The interface offers hedge funds an opportunity to trade more efficiently with enhanced straight-through processing capability, according to both companies.
“We look forward to providing Beauchamp’s clients with additional means to achieve superior operational efficiency and accuracy in trade reporting,” said Beauchamp President Clare Flynn, in a statement. “The user will be able to feed substantial volumes of trades into Omgeo CTM, match them with broker execution and trade details, manage exceptions and automatically update the status of trades in the FundManager system prior to reporting them to their prime brokers and administrators. Automated trade matching and reconciliation is bringing the hedge fund industry that much closer to full straight-through processing, maximizing operational efficiency and maximizing investment returns.”
Kathy Ball-Tonic, executive director for Omgeo’s Global STP Partners Program said, “We are pleased to be able to offer our clients increased value through our straight-through processing partnership with Beauchamp. [With] a certified interface between Omgeo CTM and Beauchamp FundManager, clients are able to increase their straight-through processes and maximize efficiencies without having to spend time and money building their own links.”
The FundManager software suite, which manages all stages of trade life cycles from order management through custody and settlement, is used by more than 150 clients to manage in excess of US$50 billion in assets, according to Beauchamp.
Omgeo is a joint venture of the Depository Trust & Clearing Corp. and Thomson Financial.
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