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RCP demonstrates RCP Deal Web at Sibos

Didcot, England - 23 August 2001 - RCP Consultants Ltd. (RCP), a leading provider of straight through processing solutions to the growing e-financial markets, is demonstrating its innovative RCP Deal Web system at Sibos in October, together with a preview of developments on the industry standard, FpML.

"By attending we hope to meet possible partners and potential customers, from Back and Front Office Operations in the Foreign Exchange and Money Markets arena. This represents a new era for the Financial Group with the potential for expansion and growth in ‘client’ applications," commented Maxine Ainslie, Marketing Executive at RCP.

RCP Deal Web gives banks operational support for Foreign Exchange (FX) operations, reducing operational costs across countries whilst respecting regulatory standards. One of the key features that is attracting customers is its ability to support local FX services, whilst providing global oversight functions.

RCP have already gone live with one major bank on RCP Deal Web, with the prospect of providing to their global operations. We are also actively working with other financial institutions to implement the system. It opens new opportunities for banks to provide global data access, giving genuine system inter-operability from the shrink-wrapped technology and minimal administration and deployment costs. This brings consistent, cost-effective and timely support to reconciliation activities.

Gavin Smith, RCP’s Global Markets Business Manager is currently working for the FX Products Working Group on FpML (Financial products Markup Language) and has subsequently developed applications which collect data from major FX trading systems such as Reuters Dealing and EBS and deliver each as an FX FpML document. These applications will be enhanced to match the developing FpML FX standard.

The Group is responsible for extending the product definition of the current FpML standard to accommodate the use of FpML for FX products, whilst ensuring full utilisation of the existing language.