The firm said it has seen significant momentum in take-up of the offering, with twelve early adopter brokers now signed on to the central matching platform around the globe in regions including the U.S., UK, Brazil, Canada, Spain, France and Korea.

Early adopters include firms such as Bank of America Merrill Lynch, Credit Suisse, Deutsche Bank and Newedge Europe.

The vendor said that Omgeo CTM provides broker/dealers and investment managers with one common platform for them to interact in both domestic and cross-border markets, enabling increased operational efficiency and exception-only processing.

Until now, sell-side clients wishing to leverage automated trade processing for cross-border and non-U.S. trades have utilized Omgeo OASYS Global, while buy-side clients have been able to use the central matching capabilities of Omgeo CTM.

Extending access to broker/dealers will enable them to provide greater responsiveness and efficiency to their client base, according to the vendor.

In addition, it will enable brokers' access to future functionality within Omgeo CTM around new asset classes and markets, as well as the most recent improvements in response times and resolution of errors for standing settlement instructions/data.

Geoff Mizen, director, integrated client management, Bank of America Merrill Lynch and co-chair of Omgeo's EMEA advisory board, commented: "We see adoption of Omgeo CTM as a significant opportunity to partner with our clients to enhance straight-through processing. In particular we are focused on getting as many trades as possible affirmed ready for settlement on trade date."

Nick Morgan, vice president, securities middle-office, also of Bank of America Merrill Lynch, added: "By being one of the first adopters of Omgeo CTM on the broker side we are able to partner with Omgeo on development of the central matching product to manage trading risks in the most optimal way."

According to Omgeo, benefits of Omgeo CTM for broker/dealers include mitigated operational risk through improved same-day affirmation (SDA) and response times, giving brokers a competitive advantage; Proactive handling of exceptions due to more efficient workflow; Increased operational performance with the non-sequential nature of the workflow, which can help when buy-side clients benchmark their brokers; reduced security risk through enhanced encryption and more current technology; and improved latency and scalability through faster processing rates and more robust technology.

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