ION Treasury

Banco Central de Costa Rica (BCCR) Selects OpenLink’s Findur

Costa Rica’s Central Bank Opts For Findur as Its Front- through Back-office Solution

Uniondale, New York, June 5, 2006 OpenLink, a leading provider of financial and commodity trading, risk management, and operations processing software solutions, announced today that Costa Rica’s central bank, Banco Central de Costa Rica (BCCR), has licensed Findur, the company’s integrated trading and portfolio management solution.

San Jose-based Banco Central de Costa Rica (BCCR) now plans to implement the Findur system in the second half of 2006. The primary business objective for the implementation will consist of supporting the bank’s investment portfolios covering all traded products. BCCR will also seek improvements to its Asset/Liability Management function and will rely on Findur to aid with the debt issuance process and all middle- and back-office related tasks.

Findur is currently deployed at some of the world’s most prominent central banks for its comprehensive Straight-Through-Processing (STP) capabilities supporting a wide range of financial products. Findur’s user-friendly and adaptive trade entry facilities, pricing and analytical tools, and position and risk management capabilities are highly valued by traders, portfolio managers, and risk managers alike. In addition, Findur’s back-office capabilities – from seamlessly processing transaction lifecycle events, real-time compliance limit checking, to posting sub- ledger accounts and performing automatic reconciliations – have greatly improved the efficiency and productivity of the operational staff at these central banks.

"The bank was seeking a Straight-Through-Processing solution for all front-, middle-, and back-office functions, which will allow us to reduce operational risks,” said Roy González, the bank’s General Manager. “It was important for the system to offer a centralized database of information that could be accessed by all stakeholders. With OpenLink’s Findur, we expect to better manage our current product requirements while also providing support for new instruments as they are added to the portfolio.”

“We welcome Banco Central de Costa Rica to the OpenLink family,” added Coleman Fung, OpenLink’s founder and CEO. “Winning BCCR signifies not only our partnership with the bank but also our commitment to the Central and South American marketplace. We expect that our strong Findur development track record, coupled with the acceleration of investment in our Latin American service and support infrastructure, will result in significant growth in new clients in the region for years to come.”