Gresham Computing PLC
06 September 2005
For immediate release: 6 September 2005
Gresham Computing plc
CABLE & WIRELESS REAL TIME NOSTRO CONTINUES TO BUILD GLOBAL COMMUNITY WITH NEW
Gresham is pleased to report the following concerning the Real Time Nostro
Service taken from an update that Cable & Wireless has notified Gresham that it
intends to make today at the Sibos conference and exhibition in Copenhagen:
'London - 6 September 2005 - Cable & Wireless, the international
telecommunications group, today announced the latest group of banks to agree
adoption 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 of
nostro data. Additionally, more than 10 banks are currently in pilot phase as
users including Affin Bank, Maybank and Union Bank of Taiwan. These banks join
a growing list of financial institutions from different areas of the globe who
have expressed an interest in Cable & Wireless RTN since Sibos 2004.
The progress with these banks indicates steady growth in building global
currency coverage and continued support from the industry. Additional banks to
have signed-up as providers to the service during the last year include Bank of
America, providing data on its US dollar accounts and RBC Financial Group, the
largest inter-bank clearer of Canadian dollars, who are also using the service
in a live environment. The latest announcement brings the total number of banks
to 17 who have agreed to provide currency information, with nine of these
providing 'live' data enabling users to gain real time access to over a hundred
Gerard Hammarlund, global head of sales, Cable & Wireless RTN, said, 'We're
pleased with the momentum of Cable & Wireless RTN and the growing support the
service is receiving from banks around the world. The range of new provider
banks is particularly significant as the service continues to build critical
mass in terms of currency coverage. The value of Cable & Wireless RTN to
current and potential users is becoming increasingly clear; the exchange of real
time nostro information improves the efficiency of foreign exchange related
processes, 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 our
existing reporting service for clients and widens our offering. It supports the
provider-independent information requirements of the industry.
'The importance of real time information is growing, enabling our clients and us
to achieve reductions in risk and improve overall efficiencies and liquidity
management functions. In addition, this decision has enabled us to further
leverage our investment in SWIFTNet, ensuring cleaner and faster delivery of the
Illustrating the potential value for user banks, Ian Toone, managing director,
Global Financial Institutions, RBC Financial Group, comments, 'We are currently
using Cable & Wireless RTN through our CLS control branch in London. At the
same time we are looking into other areas of the organisation - reconciliations,
investigations - as well as the traditional groups with liquidity management
responsibilities 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 service
continues to grow. The total number of banks that have agreed to provide data
to the service has now increased to 17, including 3 of the 'top 5' banks in the
world and in total 6 of the 'top 20', and currency coverage continues to
increase. The agreement of ABN Amro, the world's 20th largest bank, to provide
data is particularly pleasing because they are a global banking group and a
significant Euro clearer. The announcement also confirms growth in user
numbers, with over 10 banks now in pilot phase.'
A full copy of the Cable & Wireless update will in due course be available from
the Cable & Wireless Real Time Nostro website www.cw.com/rtn and will also be
available from the Gresham Computing plc website at www.gresham-computing.com
The Sibos conference and exhibition continues until 9 September in Copenhagen
and more information concerning Cable & Wireless RTN can be found on stand C282.
Size of bank is measured by Capital (Source: The Banker: 'Top 1000 World Banks
at 31 December 2004', July 2005).
- Ends -
For further information, please contact:
Gresham Computing plc +44 (0)20 7653 0200
Financial Dynamics +44 (0)207 831 3113
About Cable & Wireless Real Time Nostro
Developed in close conjunction with the banking community, Cable & Wireless Real
Time Nostro (Cable & Wireless RTN) offers institutions involved with foreign
exchange and other international transactions a new way to share multi-bank,
multi-currency 'Nostro' account data in real-time. This is in direct response
to the banks' need to improve liquidity management, reduce risk, increase
operational efficiencies and respond to customer demand.
Cable & Wireless RTN is a subscription-based information service, providing
Nostro agents and account holders with a single view of their Nostro positions
in 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 has
Cable & Wireless RTN is a shared repository of information, hosted and managed
centrally in Cable & Wireless' hosting facilities and available over an internet
browser or via an application programme interface over SWIFTNet. Software from
Gresham Computing normalises and aggregates the data into industry-standard XML
for ready integration with the banks' existing systems.
The provision of data to the Cable & Wireless RTN service does not generate
revenue from the banks providing that data. Revenue is generated from users
subscribing 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's
range of innovative solutions to help improve their competitive edge and bottom
Gresham Computing plc is listed on the London Stock Exchange (GHT) and has
offices throughout the world. The company's web site is
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