SOPHIS SOLUTIONS FIRST TO BECOME REUTERS OPEN DACS-ENABLED

Sophis, a leading provider of cross-asset, front-to-back risk and portfolio management solutions, today announced that it is the first software vendor to become Reuters Open DACS-Enabled. Sophis has passed the rigorous testing criteria for the integration of its interface to the Reuters Data Access Control System (DACS).

Reuters Open DACS provides a scalable, reliable, high performance, and easy to use access control system, which allows organizations to set permissions at user level to access and use chargeable data anywhere within the enterprise. Reuters Open DACS can now establish a connection between Sophis' RISQUE derivatives trading and processing solution and Reuters DACS, enabling clients to both report on and control access to market data, thereby minimizing inefficient use of fee-liable data and associated costs.

The integration of Reuters Open DACS and Sophis applications has been welcomed as a key milestone in the development of a standard interface to the widely adapted Reuters DACS tool. The project to integrate Reuters Open DACS and Sophis solutions was driven by demand from a number of mutual clients including Fortis, which is now using the system live in its working environment.

Antoine Meyers, Head of Global Business Support, Merchant and Private Banking at Fortis, commented: "The combined force of Reuters Open DACS and RISQUE offers a powerful new solution that enables Fortis to manage data from multiple sources and meet regulatory reporting requirements in a more efficient and cost effective manner."

Sebastien Roussotte, Head of Strategic Marketing at Sophis, added: "Customers now have access to the Reuters Market Data System with automatic data feed configured by user, but with the added potential benefit of a cost-effective method for controlling access to and reporting on the usage of market data. This means that customers only pay for the information that they use, which reduces overall costs. The optimization of a custom data feed also brings significant benefits in terms of architecture scalability, which will benefit both our asset management and investment banking customers."

Bernhard Gademann, Global Business Owner, Open DACS at Reuters, commented: "Today's announcement is a great example of our initiative to work closely with our application partners in order to deliver the leading scalable and effective entitlement solutions to our mutual clients across the industry."