OM Retail Order Management System Goes Live At Vanguard Brokerage Services

OM, a world leading provider of transaction technology to the financial services and energy industries, announced today that its Retail Order Management system has gone live at Vanguard Brokerage Services. In production since mid-September, the system enables the more than 500,000 Vanguard brokerage account clients to directly access their accounts and initiate orders via the Internet, a voice response system or directly with their Vanguard account representative. Vanguard brokers can then execute orders and manage the client's information and account activity in real-time.

With this solution, Vanguard Brokerage Services moves from a service bureau to a more flexible in-house system, providing the firm with several competitive advantages. These include the ability to maintain control of customer interfaces as well as the flexibility and speed to change its own web front end to meet individual business requirements. In addition, with the OM solution, Vanguard maintains real-time links to Pershing's back office clearing and settlement system.

"Real-time client management requires a high level of automation and robust functionality that many legacy service bureau systems are unable to achieve," said Roland Tibell, President, OM (US) Inc. "OM is finding many mid-level to large firms are very interested in our system's ability to easily integrate with their current environment and to help them accomplish their straight through processing goals."