London Clearing House signs contract with Misys Asset Management Systems

Mission-critical multi-market netting and clearing system processes £10 billion in trades a day

London, 2 April 2003 - Misys Asset Management Systems, a global solution
provider for the asset management community, today announced that The London
Clearing House Limited (LCH) has signed a further two-year contract for the
provision of facilities management and disaster recovery services through
Arrow - Misys' complete CREST connectivity solution. LCH currently processes
an average £10 billion a day in trades through Arrow.

Arrow processes and reports on the netted transactions from both LCH RepoClear® for the UK gilt market, and from the LCH Equity Margining System for Euronext.LIFFE. The solution automatically integrates with CREST, ensuring data is reconciled between the two systems, including stock balances and posting, CMA balances, cash positions and open positions.

Alan Blackmore, Director - Commissioning at LCH, says: "We have found Arrow
to be a reliable system that works well. LCH has successfully used Arrow
since CRESTCo was established prior to expanding the service into LCH
RepoClear® last year and we're confident it will meet our increasing

Cheryl Redgewell, Operations Products Manager for Misys Asset Management Systems adds: "The combination of LCH RepoClear®, LCH Equity Margining System and Arrow delivers a full, end-to-end streamlined solution. LCH feeds trade data into Arrow and the information is transmitted to CREST for matching with market counterparties. Arrow then automatically retrieves information for LCH, from CREST, on a real time basis. It's a brilliant example of a proven, robust straight through solution in action."

Arrow is a business-critical CREST interface, which is easily integrated with back-office systems or can be used on a stand-alone basis. The product is reliable and very scalable. Its PC-based Graphical User Interface (GUI) supports workflow authorisation and alerts, which can be tailored to the needs of settlement departments. The GUI can also be used for trade entry, providing the option for stand-alone operation, ideal for low-volume participants where a full back-office solution is not required. In answer to today's low-volumes markets, and to reduce the entry-level costs, charges to customers are calculated on a transaction basis.

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