According to the terms of the agreement, the Post-Trade (MPT) system will provide Mondrian with application service provider (ASP) connectivity to Omgeo CTM and Swift. It will also provide a single workstation for monitoring and managing all post-trade activity.
In addition, Mondrian will use MPT to communicate outbound bank and trade notification messages through Swift and receive inbound cash reconciliation, corporate action and holdings reconciliation messages.
Mondrian said it plans to integrate MPT into another commercially available third party OMS and their existing business continuity procedures.
The ASP delivery model will enable us to outsource all of our existing post-trade hardware and software whilst retaining control over the full post-trade lifecycle, said Jason Andrews, investment administration manager at Mondrian.
The Internet-based MPT Workstation will give us a consolidated view of all of our post-trade activity and enable us to move to a more proactive and exceptions-based processing model, he added.
