MORGAN STANLEY SELECTS THUNDERHEAD TO HELP AUTOMATE OTC DERIVATIVE TRADE CONFORMATION PROCESS

London, UK. Tuesday 25th April, 2006. - Thunderhead today announced that Morgan Stanley (NYSE:MS), one of the world's largest diversified financial services companies, has selected the Thunderhead Document Generation Framework to help automate the creation of its OTC derivative trade confirmations.

Thunderhead's off-the-shelf solution will enable the trade confirmation process to become more streamlined and scalable, while reducing operational risk and delivering business user control to improve the time required to reach the document confirmation stage.    
 
An important factor in the selection of Thunderhead's Document Generation Framework was its open standards architecture, which will enable Morgan Stanley to integrate Thunderhead with its trade confirm architecture to meet aggressive project timescales.  

The implementation will enable multiple business groups to create and maintain a spectrum of trade templates bringing immediate business advantage through the reduction of the usual costs associated with manual document creation and amendments.  

Thunderhead will permit business users to develop and maintain the whole spectrum of trade confirmations, both STP and non-STP. In addition, Thunderhead provides a full audit trail to ensure complete transparency of the trade confirm process.

"We are delighted that Morgan Stanley has selected Thunderhead Document Generation Framework to support and automate its Derivative Operations. We have developed Thunderhead to enable progressive organizations such as Morgan Stanley to adopt an enterprise wide strategy for trade confirmation generation," commented Glen Manchester, Thunderhead CEO. 

Thunderhead's multi-channel capabilities enable users to produce documents in any format required by trading partners, be they print, fax or email, including counterparty settlements made via DTCC Deriv/SERV.

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