When BNP Paribas decided to migrate from OASYS GlobalSM to Omgeo ctm Trade Manager (CTM), it needed a platform that could handle the complexities of its confirmation process across multiple asset classes. The interface solution also needed to be transparent not only for its external customers but for its internal operations departments as well. Kofax designed and implemented a CTM integration that fulfilled all expectations and provided continuity for BNP Paribas’s business operations.

CTM supports an allocation-confirmation workflow, which allows both investment managers and broker-dealers to centrally match and automate their trade confirmation process using a single solution supporting best practices. When used in conjunction with the CTM XML interfaces and Omgeo ALERT®, the industry’s standing settlement instructions utility, CTM provides users with a single end-to-end solution that automates confirmation processing from front to back office.

Counterparty Information: Information about the parties involved in the trade

As a result, the system supports direct connectivity from front-to-middle office systems and a wide range of trading and financial services providers’ applications. For example, the system enables the world’s largest order management systems to connect via FIX from their front offices to CTM and its centralized matching functionality. Several leading OMS vendors, including Fidessa and Alpha Omega Financial Systems, have integrated their systems with the DTCC CTM FIX affirmation engine, allowing their clients to confirm their securities trades directly from their systems through the OASYS-CTM linkage.

In fact, the vast majority of funds and broker-dealers FinOps Report surveyed who use Omgeo CTM said they will remain with that service or, in the case of five firms, plan to add Bloomberg and SS&C’s post-trade matching capabilities to their suite of tools. Of the ten fund managers and brokers-dealers who told us they were considering a change in confirmation matching provider, three said they will stay with Omgeo CTM while two have not yet decided whether to add the other services.