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Patsystems announces Trading Update and new global contract with Man Financial

Patsystems, the AIM-quoted global supplier of electronic trading technology, is holding its Annual General Meeting at 2.30pm today, 19th April, in London, UK. At the meeting, Stewart Millman, Non-Executive Chairman, will provide the following update on trading:

“We said in our December 2006 announcement that we expected to meet market expectations of profits for 2006 and the Board looks forward to a successful 2007. We also said that in 2006 we would average one new software installation per month among the regions in which we operate and that market adoption of our Pro-Mark front-end was progressing well.

“You now know 2006 delivered the expectations which we set out and I am pleased to tell you that in 2007 we have continued along the path set out above. Having had an excellent start to the year, we expect to meet market expectations for 2007.

“Highlights for the first quarter include:
• Man Financial select Risk Informer as their global risk monitoring solution across all asset classes
• Pro-Mark billable users increased 62% in the first quarter to 209 professional trading screens
• 24-hour spot currency trading provided via the J-Trader platform in partnership with GAIN Capital Group

“The pattern of new contract wins and pipeline of business opportunities bodes well for us delivering further growth in 2008 and beyond.”

Man Financial selects Patsystems’ Risk Informer for global installation
Patsystems plc, the technology solutions provider to the derivatives industry, is very pleased to announce that Man Financial has selected Risk Informer to be its global post trade risk system.

The system will manage global risk for all exchange trade futures & options, spot & forward FX trades, contracts for difference and equities trading at Man Financial. The solution will monitor clients’ aggregated risk in real-time across all the clients’ trading activities and will provide both real time monitoring and automatic notification of limit breaches.

Man Financial is an existing customer of Patsystems using both the J-Trader and Pro-Mark front-ends to trade a significant level of derivatives business. Risk Informer is a standalone,flexible solution built to monitor and manage risk in real-time on multi-asset classes executed through any trading platform.

Chris Smith, COO, Man Financial, said:
"This installation of Risk Informer will substantially improve the efficiency of our monitoring process and will ensure we can take a global view of our clients continually. It supports our objective to streamline our electronic trading process and grow our business.”

David Webber, CEO, Patsystems, said:
“We are delighted to announce this major installation of Risk Informer. Man Financial has recognised that it is a sophisticated and flexible solution, developed to simplify the risk management process and to facilitate and control business growth.”