CURRENEX PARTNERS WITH SIMCORP TO PROVIDE STRAIGHT THROUGH PROCESSING FOR CURRENCY TRADING BETWEEN IT/2 AND FXTRADES

SimCorp and Currenex, Inc have formed a partnership to provide a combination of online FX trading with straight through processing to their joint corporate treasury customers. As a result, Currenex's market leading internet based FX trading service will be integrated with SimCorp’s powerful, highly modular product, IT/2, a leading investment and treasury management systems, which provides integrated cash, deal and risk management.

Currenex provides the first operational global currency exchange open to institutional buyers and sellers worldwide. Its Internet-based service, FXtrades, is a real-time foreign exchange marketplace that provides a total trading solution from initiation and execution to settlement and reporting.

"Integrating our trading and processing platforms is critical in the delivery of effective solutions to our clients," said Lori Mirek, President and Chief Executive Officer at Currenex. "Straight through processing gives treasurers and investment fund managers improved efficiency in their currency trading while insuring accuracy and audit-ability."

"The resulting internet FX trading ability that this partnership enables will significantly enhance our system. Our customers have already expressed considerable interest and the whole market is moving in this direction," says Kjell Nordgard, Managing Director of SimCorp Limited. "We are delighted to be working with Currenex, an independent operator and the leader in this field."

Currenex (www.currenex.com ) provides the first operational online global currency exchange open to all institutional buyers and sellers worldwide. Currenex’s Internet-based service, FXtrades, links banks, corporate treasury departments, institutional funds/asset managers, government agencies, international organizations, central banks, auditors and regulators through a real-time FX marketplace providing a total trading solution from initiation and execution to settlement and reporting. Currenex delivers certainty, efficiency and reliability in FX processing and has major multinational customers including MasterCard International, Intel Corporation and Electronic Arts as well as 25 global, market-making banks. Founded in the second half of 1999, the company has offices in Menlo Park, Calif., New York and London.


SimCorp (www.simcorp.com) develops, supplies and supports corporate treasury systems, investment management systems and a range of financial modelling tools. Established in 1971, the company has more than 500 installations throughout the world to its credit. Its market leading treasury management system, IT/2, is a powerful and comprehensive tool, designed to satisfy the requirements of today’s corporate treasuries. It is an integrated system that facilitates the effective management of deals, cash and risk. SimCorp employs 520 staff and has offices in UK, USA, Germany, Sweden, Belgium and Norway with its headquarters based in Copenhagen, Denmark.

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