Gresham Computing PLC
15 May 2003
Gresham Computing plc
Gresham reports that it was announced today, 15 May, by Cable & Wireless that:
'...ANZ Bank, Barclays, JPMorgan Chase and Mizuho Corporate Bank are to adopt
Cable & Wireless Real Time Nostro as the standard infrastructure for sharing
nostro account information between financial institutions and other
organisations. The four clearing banks announced today that they will act as a
channel to market for the service and supply data for it.
Cable & Wireless Real Time Nostro is a subscription-based, online service
providing financial institutions with a real time, consolidated view of their
international transactions and balance details. The service is designed to bring
together all the major banks that provide nostro clearing services on a single
browser access system. It will provide them with greater visibility of cash
movements globally across all types of accounts held with their nostro account
agents, including those for foreign exchange, commercial payments and securities
settlements. Cable & Wireless Real Time Nostro is enabled by software developed
by Gresham Computing.
Scheduled to be operational in October 2003, Cable & Wireless Real Time Nostro
will help banks to minimise the risks associated with foreign currency and
securities settlements, improve the management of global liquidity and enhance
Andrew Walton-Green, Chief Executive of Gresham said,
'The adoption of Cable & Wireless Real Time Nostro by these leading banks is a
major step towards establishing this service as the de facto standard for
sharing Nostro account information. This is a major leap forward for Gresham
towards our objective of delivering significant medium and long term growth.'
- Ends -
For further information, please contact:
Gresham Computing plc 020 7653 0220
Weber Shandwick Square Mile 020 7067 0734
Tim Jackaman/ Sally Lewis
1 A full copy of the Cable & Wireless press release will be available from the
Cable & Wireless Real Time Nostro website at www.cw.com/realtimenostro.
2 Nostro accounts are typically foreign currency accounts maintained by banks
with other, clearing, banks, in their non-domestic currencies, to facilitate
clearing of funds outside their national geography.
This information is provided by RNS
The company news service from the London Stock Exchange