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Our point of view
on industry issues
The industry is evolving at a more rapid pace than ever before. The things that may have kept you up at night last year have likely been replaced with new headlines, and you might wonder how emerging trends and market developments will impact your business. Omgeo’s position among trade counterparties, industry associations and regulatory bodies gives us a unique perspective on the issues that affect our community and we are pleased to share our points of view and solicit the comments of our community.*
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| Events Latin Asset Management & Fund Pro Performance Conference 8 September, 2010 Santiago, Chile Featuring Tom Trepanier, Director, Relationship Management Omgeo to exhibit 11th Annual Collateral Management Conference 9 - 10, September, 2010 London | |
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 Lee CutroneManaging Director, Industry Relations | Canada - Ripe for CCP Benefits 1 September, 2010 Omgeo recently moderated a panel on the opportunities, challenges and the future of central counterparties (CCPs) and central clearing in Canada. Along with the panellists and industry members, we discussed how central clearing can reduce counterparty risk and cost, the demand for advanced and flexible technology solutions, the need for cross-border interoperability and the benefits of a virtual matching utility in Canada. |
 John BurchenalManaging Director, Market Growth | Omgeo Named Best Exceptions and Reconciliation Management Provider in 2010 Water Rankings 27 July, 2010 Exception processing is the secret sauce that allows firms to operate more efficiently in today’s changing environment by placing focus on potential problems. Investment managers, broker/dealers, hedge funds, and service providers all use this process to “do more with less” when it comes to processing more trades with less people. |
| John Burchenal Managing Director, Market Growth | Collateral Management - The Buy-Side on Its Way 15 June, 2010 With a seemingly calmer market and a drive towards increased transparency, investors and counterparties are seeking ways to effectively and efficiently manage their collateral. This wasn’t always the case, particularly on the buy-side. Events over the past two years, including game-changers like the collapse of Lehman Brothers, have caught most firms, both on the buy-side and sell-side, off guard. It was a wakeup call when they realized that the systems and technology they had in place to manage collateral and counterparty risk , for lack of a better term, was inadequate. Buy-side firms are now moving rapidly to implement collateral management systems, to prevent this from happening again in the event of a future crisis. They won’t be caught off guard again. |
 Matthew NelsonDirector, Market Intelligence | Watch Your Step! Managing the Increase in SMA Step-Out Trades 1 July, 2010 Despite challenging conditions, assets in separately managed accounts (“SMA”) have maintained a very healthy level of growth, averaging nearly 20% per annum for the past several years. Industry observer FRC expects that assets in these customized portfolios will rise to $1.8 trillion by 2014. But this growth, while good for SMA managers’ revenue, requires a major operational undertaking. |
| John Burchenal Managing Director, Market Growth | An Evolving Market: OTC Derivatives and the Changing Regulatory Environment 15 June, 2010 Although the Congressional conference committee is still negotiating details of the final version of the bill, the buy-side is already looking for ways it can prepare before the regulatory hammer falls. No matter the details, buy-side firms will need to focus on building better, more automated, trading, management and reporting systems. |
| Matthew Nelson Director, Market Intelligence | Despite Roller Coaster Ride, Hedge Funds are Still the Place to Be 19 May, 2010 Today hedge funds face the specter of pending regulation and unfriendly politicians eager to place blame on hedge fund managers. Even in light of these challenges, it seems that hedge funds are still the envy of Wall Street. Reports of enormous paydays for fund managers, outside investment from sell-side firms and increasing allocations from institutional investors are evidence that it’s still good to be a “hedgie.” |
 Tim LindManaging Director, Strategic Planning | Managing OTC Derivatives: Never Waste a Good Crisis 12 April, 2010 Many in the political world have focused in on OTC derivatives, specifically credit default swaps (CDSs), as the main culprit for the “great recession.” While every crisis needs a good scapegoat, the reality is that CDSs did not cause this crisis. Tim Lind discusses the importance of counterparty risk in his latest blog. |
| Lee Cutrone Managing Director, Industry Relations | The Canadian Bunny Hop: Two Steps Forward, One Step Back 22 March 2010 Canadian regulation has brought much needed attention to the post-trade processing cycle in other markets around the world. However, this global momentum has recently been threatened by the possibility that the Canadian Securities Administrators will indefinitely postpone the final phase-in of NI 24-101’s trade date matching requirement. Lee Cutrone discusses the impacts that could not only shape Canada’s post-trade environment, but the way countries around the globe approach settlement cycles. |
| Matthew Nelson Director, Market Intelligence | In Today’s World, Operations Does Matter for Hedge Funds 22 February, 2010 The results from Greenwich Associates’ recent survey, “A New Dawn for Hedge Fund Operations”, provides interesting insights into the changed role of operations in the hedge fund industry. Historically operations were an afterthought. But as a result of the Madoff scandal, the Lehman Brothers collapse, and other high profile incidents that had a direct connection to operations, the paradigm has changed. |
| Lee Cutrone Managing Director, Industry Relations | Shortening Settlement Cycles? Think Same Day Affirmation 4 January, 2010 Discussions continue to heat up in Europe and other regions around the world whenever the subject of shortening trade settlement cycles is raised. True, there may be an honest debate over the viability and practicality of instituting such a change, but one thing that is undeniable is that regulators must keep in mind the importance of robust post-trade infrastructures and harmonized operating models for market participants. |
 Marianne BrownPresident and Chief Executive Officer | More of the Same and Then Some: A 2010 Look Ahead December 21, 2009 2009 was undoubtedly a landmark year when looking at operations within the financial services industry. Faced with some of the lowest points of market performance and then the beginnings of a turn-around, the entire industry has approached a cross-roads. |
| Marianne Brown President and Chief Executive Officer | Assessing Risk in the "New Normal" 12 October, 2009 Recently, I participated in a Glass Hammer event for senior women on the buy-side. My fellow panelists and I looked at how buy-side firms might do business in this new, post-crisis environment. A term that came up more than once was the “new normal;” a sense that the crisis that began in 2008 represents more than just a temporary correction. |
| Lee Cutrone Managing Director, Industry Relations | Tomorrow is Only a Day Away 10 September, 2009 It seems “risk mitigation” is all the rage nowadays, and while it has been something we’ve advocated for since Omgeo’s inception, it has never been more important to consider a cost-effective, efficient means of doing so. This is where same-day affirmation (SDA), the practice of affirming trade details on the same day the trade is executed, can put a firm leaps and bounds ahead of where it might be today when it comes to ensuring effective risk management. |
| Lee Cutrone Managing Director, Industry Relations | Risky Business in Toronto 13 August, 2009 We recently held a panel in Canada where we discussed a number of themes – how our priorities & relationships have changed, our views of risk and the emerging regulatory landscape. Given the current debate about having a systemic risk regulator in Europe and the US, we also sought to get Canada’s perspective on whether they would value this kind of regulator. |
 Tony Freeman Director of Industry Relations EMEA | Behind Closed Doors 23 July, 2009 There was little surprise when a report commissioned by the EC claimed that trading costs in Europe remain high. While the report sheds light on the front office and clearing and settlement inefficiencies contributing to Europe’s high trading costs, it omits middle office inefficiencies. |
 Brian LynnCTO, Global Electronic Markets Omgeo CrossCheck technology expert | Buy-in from the Buy-side 17 June, 2009 This month looks to be a significant one in terms of shaping the future financial markets infrastructure of both the US and Europe. On Wednesday, the US Department of Treasury is due to unveil its sweeping plan to overhaul financial regulation, while in the next couple of weeks, the EC is due to make clear its recommended approach to improving transparency of derivatives markets. |
| John Burchenal Managing Director, Market Growth | The era of self-regulation: Is it over? 12 June, 2009 OTC derivatives markets operated under the radar of most regulators and politicians until the economic crisis took root and the public need someone or something to blame. Derivatives were a natural scapegoat because their complexity and perceived complicity in the melt down. Now politicians have the OTC industry squarely in their crosshairs to the extent that some are calling for it to be elimiminated entirely. |
| Matthew Nelson Director, Market Intelligence | Postcards from the Edge: 12 June, 2009 Lessons Learned in Managing Business in a Down Market Part 1 – Planning and Prioritization In the first quarter of 2009, Omgeo interviewed over a dozen of our largest U.S. clients, representing all segments of the industry. The purpose of these interviews was to better understand how institutions are coping with the current conditions, how they are planning for the future and to gather their opinions on the future of the industry. Six common topics emerged from these interviews; planning and prioritization, the changing role of operations, relationships, risk and regulation, changing business models and emerging as a stronger industry. This series of articles will discuss each of these topics and our discussions with the participants. Lessons Learned in Managing Business in a Down Market Part 2 – The Role of Operations Lessons Learned in Managing Business in a Down Market Part 3 – Relationships Lessons Learned in Managing Business in a Down Market Part 4 – Risk and Regulation Lessons Learned in Managing Business in a Down Market Part 5 – Changing Business Models Lessons Learned in Managing Business in a Down Market Part 6 – Emerging as a Stronger Industry |
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| *All posts by the author, guest author and visitors reflect their personal thoughts and opinions which are not necessarily those of Omgeo. Omgeo is not responsible for any inappropriate, offensive, harmful or unlawful remarks such persons might make when expressing their personal views on a matter. |
