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OM Launches Global Corporate Actions

Automated Solution Reduces Manual Processing by up to 60%

London, October 15, 2001 – OM, the world’s leading provider of transaction technology to the financial services and energy industries, today announced the global launch of OneWorld Corporate Actions.

Designed to fully automate the corporate action process, OM’s OneWorld Corporate Actions eliminates much of the manual intervention inherent in today’s typical processing environment, resulting in reduced errors, streamlined processing and improved accuracy.

"As the focus on achieving a complete STP solution intensifies, the financial community is turning its attention to corporate actions, one of the last manual elements of settlement processing," said Patrik Egervall, Executive Vice President, Marketing and Sales for OM Division Technology. "We estimate that OM’s OneWorld Corporate Actions, which is capable of full STP, can reduce the manual effort spent processing corporate actions by up to 60 percent, resulting in significant savings to the overall cost of operations."

OneWorld Corporate Actions can be configured to process in a fully automated fashion – monitoring on an exception basis only – or to set individual processes for manual intervention. The system is user configurable, enabling it to handle the requirements of different event types and to better reflect the business practices of each company.

2/ OM Launches Global Corporate Actions

Additional key attributes of the system include a robust exception system, the ability to dynamically monitor positions and terms throughout the event lifecycle, and full multicurrency, multi-market support, among others.

OneWorld Corporate Actions is available either as a standalone solution or as part of OM’s OneWorld Settlement system. Three global financial institutions have signed contracts for OneWorld Corporate Actions, with one scheduled to go live by year-end.