Trade-matching venture Omgeo has implemented its Central Trade Manager (CTM) STP utility service on BEA System's WebLogic Enterprise system to automate and standardise the settlement of securities trades.
Omgeo is also using BEA's e-commerce transaction platform Tuxedo for its global database Alert, and broker-to-broker trade matching service MarketMatch.
Gary Foster, chief technology officer, Omgeo, says the deal will enable clients using Omgeo CTM to process trades in a near-real-time and online transaction environment.