DB GFS is the second client to go live on the Omgeo virtual matching utility after Royal London Asset Management. The system allows the firm to receive trade instructions far earlier in the trade cycle, centrally match trades to broker confirmation and send settlement notification messages to custodians via the interbank Swift network.

James Drumm, managing director, Asia, Omgeo expects increased uptake of the solution among outsourcers like DB GFS: "Given the increasing demands of the current economic climate, outsourcing has become a popular option for firms to concentrate on their core services and reducing costs. Omgeo CTM allows them to do that."

Adam Bryan, president and CEO, Omgeo, claims that over 50 clients have now signed up to match trades over the VMU.

"Royal London Asset Management and Deutsche Bank Global Fund Services are the first of our clients to realise improved efficiencies," he says.

Seperately, Omgeo has reshuffled the responsibilities of senior management in the Americas, offering expanded roles to key individuals. Scot Knight, currently executive director, global product management, has been named managing director of the Americas region - including the United States and Canada. In addition, James Casey will expand his current role of managing director, global marketing to managing director, global product management and marketing. Bob Nicholson will take on the role of chief knowledge officer for Omgeo.

The top-level realignment follows the recent collapse of a rival utility from the GSTP, as Omgeo looks to capitalise on its position as the front-runner in the market for central matching services.