IFX Markets Limited in partnership with STB Systems enhances regulatory reporting systems

London, England – 24 June 2003 - IFX Markets Limited, a major UK primary
market maker takes a lead to strengthen anti-money laundering controls and
automate regulatory reporting. STB Systems a leading Compliance software
specialist is aiding the fight against money launderers and providing
enhanced automated reporting to the FSA

STB Systems, a world leader in regulatory & compliance software, has today
signed an agreement to implement its anti-money laundering solution,
STB-Detector & its regulatory reporting solution, STB-Reporter, at IFX
Markets Ltd.

IFX Markets Ltd will complete the implementation of STB-Detector and
STB-Reporter within the next few months. Uniquely, one project will deliver
a regulatory and compliance database to automate a number of key regulatory
controls, specifically combining anti-money laundering and automated
reporting to the Financial Services Authority. STB-Detector, the anti-money
laundering system, will analyse all daily account movements for suspicious

A history of individual client activity is built against which ongoing
account movements are checked. As well as spotting anything unusual within
an account, the system will identify unusual activity across peer groups of
similar accounts, providing IFX with an automatic analysis of everything the
system considers suspicious. In addition, STB-Detector will check all
client details against official sanction lists. STB-Reporter, the
regulatory reporting system which also utilises data in the same compliance
database will output position, foreign exchange and counterparty risk
capital resources requirements as well as large exposures and credit
exposures reports and other important mandatory FSA schedules including
balance sheet, profit and loss reports.

Commenting on the agreement, Michael Thomas, Group CEO, STB Systems, said,
"We are delighted that IFX Markets Ltd has selected STB-Detector &
STB-Reporter. The flexibility of STB’s rules based solution makes it an
ideal choice across the entire financial sector, not just one niche. As a
compliance specialist, STB is able to cover all of the key control issues a
financial institution faces in a single implementation. We look forward to
a long & mutually beneficial relationship with IFX Markets Ltd".

Press Release Contact:
Peter Linton
Media Link
+44 118 984 3386

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