26 April 2006
Mondas plc, the AIM listed banking & securities software specialist has secured a significant order to supply its market leading corporate actions Radica CAPS software solution to J.M. Finn & Co, one of the leading independent stockbroking partnerships in the UK.
The initial contract has a minimum value of £300,000, most of which is receivable within the current financial year and relates to a six year software licence and associated professional services. The remaining revenue will be from support fees over the period.
J.M. Finn & Co, which manages approximately £2.5 billion of funds on behalf of its clients, has offices in London, Bristol and Leeds, providing private clients, intermediaries, charities and institutional investors with services tailored to their needs.
Radica CAPS 4 will provide JM Finn & Co with a fully automated end-to-end corporate actions processing system, for both Equities and Fixed Income events. The system will create a “golden record” from the Event Capture and Data Scrubbing modules. Entitlement Calculation, Position Management, Notifications and Outcome production are all included in the roll-out of the system. JM Finn & Co. will also deploy Radica EMP as a web based election management portal for use by its front office decision makers.
“I am delighted that after a rigorous selection process, J.M. Finn & Co.
selected Mondas for this very important project.” said Jarlath McGee, Chief Executive of Mondas. “Our recent release of Radica CAPS 4 takes Mondas again to the forefront of the offerings in this growth market and we look forward to adding J. M. Finn & Co. to our increasing list of satisfied live clients.”
Steven Sussman, Managing Partner of J. M. Finn & Co. said: “The automation of corporate actions is critical to suppport our growth plans both immediately and in the long term. Radica CAPS will allow such growth and will also, through the use of the web-based election portal, enable our fund managers to provide a much better service to our clients.”