"We believe this is the first time a broking house will use software which truly executes and processes a trade from start to finish without interruption, irrespective of trade volume," said Tim Boyce, ABN AMRO Asia's chief operating officer. "The OneWorld Settlement system enables us to continue increasing our market share and responding to the needs of our institutional and retail clients with the confidence that our settlement engine can keep up with the demand."
The first phase of the OneWorld Settlement system will be delivered in August and should be implemented in 12 Asian markets by the end of the year.
"Among the world's largest and most respected financial institutions, ABN AMRO has complex cross-border settlement needs which are best met by a robust settlement system," said William S. Payne, president, Securities Systems, OM Technology. "Rich in functionality, the OneWorld Settlement system is an easily implemented, cost-effective global solution that enables operations to react quickly to expanding volumes in a controlled STP environment."
As part of the implementation, ABN AMRO Asia will be the first users of OneWorld Settlement's facility for monitoring and controlling STP activity and exceptions. ABN AMRO Asia will also be users of the new Corporate Actions subsystem, which brings significant efficiencies to the Corporate Actions desk. With interfaces to the OneWorld Settlement system to initiate and reconcile corporate actions movements, the Corporate Actions subsystem redefines the standard for corporate actions processing amongst systems.
OneWorld Settlement, OM Technology's comprehensive international securities settlement and accounting system for securities brokers, handles the complex trading scenarios faced by institutional brokers. As an exception-based system, OneWorld Settlement supports trade processing and settlement facilities for a wide range of equity and debt instruments and provides interfaces to external parties such as clearing houses, exchanges and confirmation networks. OneWorld Settlement employs a scalable client/server application with a Graphical User Interface running under Microsoft Windows.
OneWorld Settlement is currently used across many markets in Asia and Europe.
OM Technology is a leading provider of application software to the financial services and energy industries. The Securities Systems business area develops and markets software for the global securities and financial exchange industries with applications for front office securities trading and processing, client order management, position keeping, settlement/clearing, international securities financing, and gateway connectivity. OM Technology's parent company, OM Gruppen, is listed on the OM Stockholm Exchange.
ABN AMRO Asia Limited is a leading Asia Pacific stockbroker with seats on all major exchanges in the region. The firm serves global institutional fund managers through industry-leading research and execution capabilities. It also has a strong and growing retail presence in selected markets.
ABN AMRO Asia is part of the ABN AMRO Group, the world's 6th largest bank in terms of total assets. The Netherlands-based Group employs more than 100,000 professional staff in 76 countries and territories. Among those, more than 5,000 equity specialists are based in 44 countries.
