Siam Commercial Bank goes live on FNX’s Sierra Treasury Solution Joins the Ranks of Live Clients in Bangkok Including BankThai and Bank of Ayudhya

Philadelphia and Bangkok, February 15, 2005 - FNX Limited (FNX), a leading provider of treasury and capital markets business technology solutions, is proud to announce its third live client in Thailand, Siam Commercial Bank. SCB now joins BankThai and Bank of Ayudhya as users of the Sierra Treasury solution in Thailand, a powerful cross asset class, front to back solution that provides comprehensive real-time position management, risk analysis, and gap exposure in a straight through processing (STP) environment.

"The implementation of Sierra Treasury has a strong emphasis on seamless real-time STP. Real-time interfaces to SWIFT, BAHTNET, multiple dealing systems (Reuters, Cognotec, etc) and several internal settlement and payment systems via SierraLink will increase operational efficiencies at the bank and allow us to reduce operational risk. This, combined with Sierra Treasury’s proven Risk Management and Credit Limit capability, gives us a solution that will address market, credit, and operational risk with a best of breed solution customized to local conditions." said Dr Pakorn Peetathawatchai from SCB.

With a growing Thai client base, the ability to provide solutions customized to local market requirements and client support, FNX has become the software vendor of choice for the Thai banking market. "Our Bangkok office is staffed with Thai speaking personnel with local market knowledge to ensure the highest level of service for clients. Our ability to work closely with SCB and understand the local market needs was a major factor in the success of this project." said Mark Bell, Head of South East Asia Client Services for FNX.

FNX’s ability to customize Sierra to fit local market requirements has been a driving force for FNX’s success in Southeast Asia. Recent market-specific enhancements to Sierra Treasury include support of Thai Bond Dealer Club pricing, a real time interface to Bahtnet, support for local conventions on call accounts, and numerous other local customizations.

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