Surecomp Announces New CLS Processing for Perfect Match® Confirmation Matching System

Hoboken, New Jersey - January 19, 2004 - Surecomp, a leading developer and provider of software solutions for the wholesale banking community, announced today that the latest release of Perfect Match, the company's world-class confirmation matching solution, will incorporate CLS (Continuous Linked Settlement) processing capabilities. With this new feature, Perfect Match Version 2003, which is to be released in Q1/2004, will provide customers with the complete lifecycle and status of any trade between the Bank, Counter-party, Broker and CLS Bank. Surecomp recently installed the first delivery of Perfect Match Version 2003 at a major international bank.

Perfect Match is a real-time, multi-branch confirmation system that enables banks to proactively control settlement and operational risk across a wide range of financial transactions. The feature-rich, easy-to-use system fully supports traditional deals, such as foreign exchange, currency options and money market trades, as well as more complex transactions, such as forward rate agreements (FRAs), interest rate swaps (IRSs), cross currency swaps, precious metals, and non-deliverable forwards (NDFs).

By means of an intelligent matching engine, Perfect Match automatically detects exceptions and logically prioritizes them by degree of error. Perfect Match then resolves exceptions quickly via its Investigations process, which provides a complete on-line event history, on-line diary of investigations and replies and full audit trail for each trade.

"By offering a real-time system with a four-way matching view and a fully integrated investigations/diary, Perfect Match gives banks the opportunity to look at the complete lifecycle and status of trades with a simple click of a button," says James F. Black, Surecomp Vice President. "Surecomp is dedicated to continuously raising the bar on functionality and the addition of new initiatives such as CLS processing to Perfect Match Version 2003 testifies to that commitment."

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development