Omgeo, FIX automate allocations

Omgeo has embraced the FIX protocol for its central trade matching (CTM) service, allowing fund managers and brokers to extend straight-through processing through trade allocations. James Drumm, Omgeo's managing director for Asia in Singapore, says while the firm has always been in the business of electronic trade confirmations, it wasn't until last year's introduction of CTM that the firm realized it had to extend its reach to allocations. FIX is a message protocol for the front of…