The first component of TEAM is the Omgeo OASYS Global Direct gateway, which has successfully passed Omgeo's conformance testing.

Commenting on the relationship with Omgeo, Ralph Horne, CEO of CMS, stated, "Omgeo has been at the forefront of the drive to improve STP in the post trade environment and we are delighted to be working with them on this new development. The buy-side is placing increasing emphasis on the requirement for speed and accuracy in the confirmation process and we are confident TEAM will play a crucial role to assist our customers in meeting these expectations."

CMS worked in partnership with Omgeo on the TEAM development and accreditation; the result is a standalone interface into Omgeo OASYS Global. TEAM will sit alongside a firm's core Trading or Settlement system, providing a standard gateway for one or more trade confirmation and allocation messaging services
(Omgeo OASYS Global, FIX, SWIFT, Email, Fax, Proprietary Gateway, etc). This enables the user to standardize on one platform, which manages the interaction between multiple confirmation and allocation protocols.

Darryl Mueller, Managing Director for Omgeo in Asia stated, "Omgeo recognizes that partnering with other providers is essential to deliver customers true STP. CMS have developed a solution that will help many customers more effectively manage their post-trade processes."

Colin Camp, Business Development Director of Capital Market Solutions explained, "In order to improve STP levels within the industry a number of systems and confirmation standards have been deployed. Implementation of any of these requires significant changes to internal front or back office systems thereby resulting in higher IT costs; TEAM provides the answer to these problems by managing the transmission of ETC messages regardless of the channel, therefore saving on expensive changes to internal systems."

CMS has announced it has already secured one customer for TEAM, which is live and in production. Negotiations are ongoing with a number of other interested parties.