DTCC gains sole ownership of Omgeo

10/3/2013 | Bloomberg

Depository Trust & Clearing purchased the remaining stake of post-trade service provider Omgeo, which the global registry previously co-owned with Thomson Reuters. The deal "enables DTCC and Omgeo to facilitate a unified strategy around key industry initiatives including the move to trade date affirmation of institutional trades, settlement matching in DTCC's subsidiary, Depository Trust Co., and the adoption of shorter settlement cycles in various markets," Omgeo President and CEO Marianne Brown said.

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