Bank of Oklahoma adds EGAR’s FOCUS to its operations in move to stay ahead of the curve

New York, NY, February 20, 2003- Bank of Oklahoma, a division of BOk Financial, announced that it has licensed EGAR Technology’s FOCUS system for its new energy derivatives desk.

In a move toward expanding its customer services, Bank of Oklahoma began offering energy hedge products in 2001. To enhance the quality of this service for this growing business, BOk needed the technological sophistication necessary to more efficiently value, process, record and report customer trades and positions.

Tally Ferguson, Head of Risk Management at BOk, found this sophistication in EGAR Technology’s FOCUS system, an efficient and highly complex derivatives risk management system. "We found FOCUS to be very user-friendly and, more importantly, of all the other systems we looked at, FOCUS offered the most cost effective way to meet our requirements." Steve Lilly, Head of the Financial Risk Management Desk, added, "It’s important to Bank of Oklahoma to start off with the best system out there. We will demonstrate to our clients that, in BOk, they have all the services of a large money-center bank, such as access to the energy derivatives markets, but they will also retain the personal service they are used to from BOk."

Bank of Oklahoma will use the FOCUS system for its energy derivatives desk, but it also plans to use the FX and agriculture modules in the future. EGAR will have the FOCUS system live by the end of February.

Ravi Jain, CEO and co-founder of EGAR Technology, said, "Today, regional banks can successfully capture a greater portion of their clients' total banking business by acquiring cutting-edge technology. Systems like EGAR Focus empower small banks to compete in areas traditionally dominated by money-center banks, like derivatives trading. EGAR offers a great solution for a medium-sized regional bank who wants to have top quality trading and risk management."

FOCUS is a fully integrated position keeping system offering pricing, reporting, and risk management supporting trading of over-the-counter and exchange-traded derivatives, swaps, FX, equities, metals, bonds, repos, and commodities.

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