Gresham Computing PLC
07 September 2005
For immediate release
7 September 2005
Gresham Computing plc
HSBC Bank plc. becomes the first financial institution to sign-up to Cable &
Wireless Real Time Nostro using SWIFTNet XML standards
Gresham is pleased to report the following concerning the Real Time Nostro
Service taken from a press release that Cable & Wireless has notified Gresham
that it intends to make today at the Sibos conference and exhibition in
''London -7 September 2005 - Cable & Wireless, the international
telecommunications company, today announced that HSBC Bank plc. has become the
first financial institution to sign-up as a provider of currency information
into the Cable & Wireless Real Time Nostro (RTN) service using SWIFTNet XML
HSBC's decision to utilise the new generation of SWIFTNet XML standards for the
delivery of currency information enables them to expand their currency clearing
services and ensure the delivery of the data is fast, efficient and in an
up-to-date format which complies with emerging industry standards. HSBC clients
who subscribe to the Cable & Wireless RTN service will benefit from
significantly reduced costs and risk across back office operations, including
dramatic improvements in error detection and exceptions management.
HSBC is one of the world's leading providers of multi-currency clearing
services. They will provide information into the Cable & Wireless RTN service
in over forty currencies giving the service extensive global reach. Many of the
currencies are from the emerging growth areas in the Middle East, the Indian
subcontinent and Asia. HSBC will also be the first bank to provide data to the
Cable & Wireless RTN service from all of its clearing branches worldwide.
Marilyn Spearing, Global Head of Sales for HSBC Global Transaction Banking, HSBC
commented, 'Providing settlement data to the Cable & Wireless RTN service using
SWIFTNet XML standards allows us to extend our investment in SWIFTNet and
provide superior Nostro account information services to global customers. Using
the XML standards will improve straight through processing efficiencies
dramatically and raise the bar for streamlined communications with
counterparties and customers.'
Claudia Cassinari, Senior Product Manager, Banking Markets and SWIFTSolutions,
SWIFT, added, 'Having solutions on the market which support SWIFTNet services
and SWIFTStandards XML is critical for fast industry adoption of these new
standards. There is also industry-wide recognition of the value of market
co-operation, support for a common infrastructure and standards to exchange
'SWIFT works closely together with its partners to support this co-operation and
help deliver SWIFT solutions into their client's environment. SWIFT is very
pleased to be working closely with Cable & Wireless on cash reporting and their
agreement with HSBC is evidence of the collaboration which is helping to drive
adoption of common standards.'
Gerard Hammarlund, Global Head of Sales, Cable & Wireless RTN said, 'HSBC's
connectivity to the RTN service using SWIFTNet XML standards is an example of
how banks are not only continuing to find different ways to leverage their
investment in SWIFTNet, but also recognising that adoption of XML standards
enables them to utilise new opportunities. The business case for XML standards
is very strong and the instant benefits to using these standards are reductions
in errors and improved customer services.
'The addition of a range of exotic currencies is also significant to users of
the Cable & Wireless RTN service. Critical mass in terms of currency coverage
is the key to obtaining maximum value from Cable & Wireless service and we're
delighted that the addition of forty two currencies by HSBC, many of which are
exotic, extends the currency coverage and value of the RTN service for users.'
HSBC joins other leading banks such as ABN Amro, ANZ, Bangkok Bank, Bank of
America, Barclays, Citibank, Commonwealth Bank of America, JPMorgan, Mizuho,
National Australia Bank, National Bank of New Zealand, Royal Bank of Canada, and
Standard Bank South Africa that have already agreed to provide data into the
Cable & Wireless RTN service.'
Andrew Walton-Green, Chief Executive Officer of Gresham, commented:
'The addition of HSBC Bank plc. is highly significant for a number of reasons,
all of which increase the value of the service to users. With today's
announcement the 4 largest banks in the world (Citibank, JP Morgan, HSBC and
Bank of America) have now agreed to provide data, bringing the number of 'top
20' banks that have agreed to provide data to the service to 7 and the total
number of data providers to 18. The global reach of HSBC brings more currencies
to the service, including exotic currencies with perceived higher risk,
enriching the service content.'
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
(Cable & Wireless) and C294 (HSBC).
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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