FRANKFURT, Germany, Nov. 26, 2002 (PRIMEZONE) -- OM's (Other OTC:OMGPF) (Stockholm:OM) Institutional Order and Trade Management solution -- an automated trade capture and management real time order processing solution for institutional and retail markets -- and a gateway single API to multiple markets has been selected by German Bayerische Landesbank.
The current economic climate worldwide has led to a drive toward reducing operational risk and costs throughout the financial services industry. Christian Gastager, Equity Trading, Bayerische Landesbank, said: "For our front office equity trading system, OM's Institutional Order and Trade Management system presents the best fit for eliminating the manual process of exception handling and toward full automation of the front office order and trade process. We are confident that OM with its trusted brand will deliver benefits to our customers."
OM's Institutional Trade and Order Management solution is an integral part of the front to back office solutions suite which offers trade management, order management, position keeping and order routing to the retail and institutional financial services industry. It is able to be easily integrated to in-house legacy systems and its modular format has meant that banks are able to eliminate most of the manual process of order and trade management, hence increasing efficiency and reducing costs and operational risk throughout the company.
"This endorsement by Bayerische Landesbank has created a first significant step toward penetration into the German market, OM is at the forefront of front office transaction technology," said James Stoker, OM Sales Manager, Front Office Solutions.
OM's Front Office solutions cover the entire trading cycle from trade capture through to settlement, facilitating the move toward Straight Through Processing (STP). As said by Jan-Gotz Reichwald, Managing Director, OM Germany: "Our expertise in transaction technology has been extended to over 300 clients and 25 Exchanges worldwide in both energy and financial markets. Our knowledge can only mean that banks receive optimum service and expertise in improving their services to their clients."
For further information and/or one-to-one interviews please contact:
Julie Wong Tel: +44 (0) 20 7065 8274 Communications Manager -- EMEA julie.wong@om.com Claudia Springer Tel: +49 (0) 40 3551 9276 Marketing Germany claudia.springer@om.com
About OM
OM is a world leading provider of transaction technology to the financial services and energy industries. Developing and marketing IT solutions that boost the efficiency of markets worldwide, OM has over 300 customers in 20 countries. OM also owns and operates exchanges and clearing organizations and has operations in 10 countries. OM is listed on Stockholmsborsen. For more information please visit www.om.com.
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