March 31, 2015
I am supportive of Bloomberg's initiative to offer a confirmation matching service for two primary reasons:
Competition is a positive in all markets and the ultimate winner is the consumer of the good or service. The outcome is a better product at a market defined price.
Omgeo, as a DTCC entity, should understand and support the existence of another independent entity providing the service as it reduces the operational risk of a single point of failure currently in the process.
Regards,
Joseph Denci
Vice President COO
Scotia Capital (USA) Inc.