6th Sep 2005 07:00
Gresham Computing PLC06 September 2005 For immediate release: 6 September 2005 Gresham Computing plc ("Gresham") CABLE & WIRELESS REAL TIME NOSTRO CONTINUES TO BUILD GLOBAL COMMUNITY WITH NEW BANKS SIGNING-UP Gresham is pleased to report the following concerning the Real Time NostroService taken from an update that Cable & Wireless has notified Gresham that itintends to make today at the Sibos conference and exhibition in Copenhagen: "London - 6 September 2005 - Cable & Wireless, the internationaltelecommunications group, today announced the latest group of banks to agreeadoption of its Real Time Nostro (RTN) service. They include ABN Amro,FirstRand Bank Limited, through their division FNB International Banking,Standard Chartered Bank, Svenska Handelsbanken and Westpac as providers ofnostro data. Additionally, more than 10 banks are currently in pilot phase asusers including Affin Bank, Maybank and Union Bank of Taiwan. These banks joina growing list of financial institutions from different areas of the globe whohave expressed an interest in Cable & Wireless RTN since Sibos 2004. The progress with these banks indicates steady growth in building globalcurrency coverage and continued support from the industry. Additional banks tohave signed-up as providers to the service during the last year include Bank ofAmerica, providing data on its US dollar accounts and RBC Financial Group, thelargest inter-bank clearer of Canadian dollars, who are also using the servicein a live environment. The latest announcement brings the total number of banksto 17 who have agreed to provide currency information, with nine of theseproviding 'live' data enabling users to gain real time access to over a hundredcurrencies. Gerard Hammarlund, global head of sales, Cable & Wireless RTN, said, "We'repleased with the momentum of Cable & Wireless RTN and the growing support theservice is receiving from banks around the world. The range of new providerbanks is particularly significant as the service continues to build criticalmass in terms of currency coverage. The value of Cable & Wireless RTN tocurrent and potential users is becoming increasingly clear; the exchange of realtime nostro information improves the efficiency of foreign exchange relatedprocesses, the level of customer service and reduces both risk and cost." Joerg Pinkernell, Head of Financial Institutions Services, at ABN Amro, said, "The agreement to provide data into the RTN service is complementary to ourexisting reporting service for clients and widens our offering. It supports theprovider-independent information requirements of the industry. "The importance of real time information is growing, enabling our clients and usto achieve reductions in risk and improve overall efficiencies and liquiditymanagement functions. In addition, this decision has enabled us to furtherleverage our investment in SWIFTNet, ensuring cleaner and faster delivery of thetransaction data." Illustrating the potential value for user banks, Ian Toone, managing director,Global Financial Institutions, RBC Financial Group, comments, "We are currentlyusing Cable & Wireless RTN through our CLS control branch in London. At thesame time we are looking into other areas of the organisation - reconciliations,investigations - as well as the traditional groups with liquidity managementresponsibilities to see where it can add value."" Andrew Walton-Green, Chief Executive Officer of Gresham, commented: "The global community of major banks supporting the Cable & Wireless RTN servicecontinues to grow. The total number of banks that have agreed to provide datato the service has now increased to 17, including 3 of the 'top 5' banks in theworld and in total 6 of the 'top 20', and currency coverage continues toincrease. The agreement of ABN Amro, the world's 20th largest bank, to providedata is particularly pleasing because they are a global banking group and asignificant Euro clearer. The announcement also confirms growth in usernumbers, with over 10 banks now in pilot phase." A full copy of the Cable & Wireless update will in due course be available fromthe Cable & Wireless Real Time Nostro website www.cw.com/rtn and will also beavailable from the Gresham Computing plc website at www.gresham-computing.com The Sibos conference and exhibition continues until 9 September in Copenhagenand more information concerning Cable & Wireless RTN can be found on stand C282. Notes Size of bank is measured by Capital (Source: The Banker: "Top 1000 World Banksat 31 December 2004", July 2005). - Ends - For further information, please contact: Gresham Computing plc +44 (0)20 7653 0200Andrew Walton-Green Financial Dynamics +44 (0)207 831 3113James Melville-RossCass Helstrip About Cable & Wireless Real Time Nostro Developed in close conjunction with the banking community, Cable & Wireless RealTime Nostro (Cable & Wireless RTN) offers institutions involved with foreignexchange and other international transactions a new way to share multi-bank,multi-currency 'Nostro' account data in real-time. This is in direct responseto the banks' need to improve liquidity management, reduce risk, increaseoperational efficiencies and respond to customer demand. Cable & Wireless RTN is a subscription-based information service, providingNostro agents and account holders with a single view of their Nostro positionsin each currency, across bank accounts, irrespective of time-zones and systems,to help them manage their cash flows intra-day, rather than after the market hasclosed. Cable & Wireless RTN is a shared repository of information, hosted and managedcentrally in Cable & Wireless' hosting facilities and available over an internetbrowser or via an application programme interface over SWIFTNet. Software fromGresham Computing normalises and aggregates the data into industry-standard XMLfor ready integration with the banks' existing systems. The provision of data to the Cable & Wireless RTN service does not generaterevenue from the banks providing that data. Revenue is generated from userssubscribing to the service in order to access the data. About Gresham Computing plc Gresham develops and implements software for banking, integration and storage.Many of the world's most successful banks and corporations choose from Gresham'srange of innovative solutions to help improve their competitive edge and bottomline performance. Gresham Computing plc is listed on the London Stock Exchange (GHT) and hasoffices throughout the world. The company's web site iswww.gresham-computing.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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