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EFLOW LAUNCHES REAL-TIME TRANSACTION MONITORING AND AUDITING SOLUTION FOR MiFID COMPLIANCE

Transaction Tzar™ is the only complete solution to provide end-to-end transaction monitoring and real-time reconciliation facilities through a single dashboard

Transaction Tzar™ monitors and reports on all asset class transactions for the capital markets, enabling a trade-centric view of the entire transaction lifecycle.

4th May 2006 – London – eflow, the provider of trade transparency and transaction management systems to the financial markets, today announced the launch of its Transaction Tzar™ solution from a seminar on MiFID held in conjunction with Oracle.

Transaction Tzar™ provides end-to-end transaction monitoring and auditing of all asset classes, and delivers a real-time view of transaction pipelines. Transaction Tzar™ is specifically designed to enable the back office to satisfy compliance issues from regulations such as MiFID, by collecting all trade data and providing transaction transparency, monitoring and reporting. Users of Transaction Tzar™ have the ability to carry out test scenario analysis to increase the level of information available for risk management processes.

Providing access to detailed historical information and real-time transaction status allows financial institutions to comply with the demands of MiFID, and to identify and act on inefficiencies in an organisation’s trade flow. Transaction Tzar™ provides real-time monitoring and reconciliations via a dashboard, allowing identification of congestion points in the workflow, and a holistic view of STP and performance rates.

MiFID is increasingly becoming the catalyst for financial institutions to improve transparency of internal processes and reduce operational risk. Transaction Tzar™ is the springboard for complete process management, integration, reconciliation, exception management and processing, while meeting documentation requirements for all asset classes, including complex structured products where backlogs in trade confirmations have attracted attention from US and UK regulators over recent months. Transaction Tzar™ is a volume insensitive solution that is able to grow with an institution’s trading volumes.

“Financial institutions are demanding efficiency, cost savings, stability and transparency, against a backdrop of relentless growth in transaction flow”, commented Marsha Parker, CEO of eflow. “MiFID provides an opportunity to gain competitive advantage by implementing a world-class transaction monitoring system. Transaction Tzar™ offers touch-of-a-button profiling, reporting and analysis, and provides management with a true trade-centric and transparent view of activity in a workflow. The provision of access to auditors on any number of days’ trading activity is set to become a key requirement of MiFID, and as such we are seeing growing demand for fully scalable solutions such as Transaction Tzar™.”

Transaction Tzar™ has been developed with a business-oriented design that allows for real-world everyday use. In benchmarking tests carried out in Dell’s laboratories, Transaction Tzar™ processed up to 40,000 messages per hour through its workflow, with the potential to increase to between 400-600,000 per hour using Oracle’s 10g and TimesTen In-Memory Database that forms the foundation of Transaction Tzar’s™ real-time transaction monitoring processes. During the benchmarking tests, Transaction Tzar’s™ technology-agnostic capabilities also enabled connection to all software applications and internally developed systems regardless of origin, reporting on up to 8 trade milestones. Each milestone reports on completion of a critical risk point to ensure succinct and fluid trade completion.

Transaction Tzar’s auditing and management capabilities are complemented by the added security of eflow’s Disaster Recovery System. Transaction Tzar™ records transactions in real-time, allowing full fail-safe recovery of all trading information in the event of a system failure.