Mercator Software is to provide its Global Securities Solution (GSS) integration software for financial services connecting to Omgeo's Central Trade Manager (CTM).
Mercator GSS allows investment managers, broker/dealers and global custodians to link their internal applications to Omgeo CTM. Transactions can then be settled on their date of trade automatically without the costly delays caused by manual coding. CTM incorporates industry Codes of Practice and local market standards to promote data integrity and streamline settlements, notes the company.
Mercator has been a member of the Omgeo STP Partners Program since it was formed in 1998, providing integration services to systems such as Oasys Global.
Roy King, chairman and CEO of Mercator, says: "Omgeo CTM is an important central trade matching solution...As a result of our partnership with Omgeo, we will be able to provide richer functionality and greater flexibility for our many financial services customers throughout the world."