BENCHMARKING FIRST FOR PETEREVANS XANITE

11 October 2006

One of the UK’s leading independent software providers for the financial services sector peterevans has achieved the new B.I.S.S. ‘MiFID’ benchmark accreditation for its new ‘xanite’ suite.

Gary Wright, C.E.O., of B.I.S.S. Research, the exclusive research company offering a unique benchmarking of services and systems in the financial services sector, and creator of the B.I.S.S. business benchmarking concept said:

“peterevans is the first vendor to put their system through the B.I.S.S. ‘MiFID’ benchmarking process and have been awarded the B.I.S.S. Accreditation. The B.I.S.S. ‘MiFID’ benchmarking examines systems in the myriad of different areas that the MiFID Articles impact, including front, middle, back office, compliance etc. The award is based on how well the technology supports the clients’ requirements for MiFID.

“MiFID is grabbing much attention in the media and there are many software suppliers marketing their systems as providing functionality which enables financial services companies to comply. However, much of this is marketing hype and unproven, peterevans has demonstrated real confidence in their system by submitting it to this independent examination.

“We are delighted that peterevans has achieved the benchmark tests set by the industry panel and they have been awarded the B.I.S.S. Accreditation quantifying that their system has the necessary functionality that should support current MiFID requirements by their customers.”

Full details appear in the B.I.S.S. report that will be available on the 30th October 2006.

Speaking at Sibos in Sydney, Australia, peterevans Managing Director Mike Foley said:

“We are delighted to be the first company to achieve B.I.S.S. ‘MiFID’ benchmark accreditation. This benchmark is a real test of quality, resilience, and delivery for our new xanite product and I am sure that this seal of approval will be welcomed by existing clients and new customers alike. It will of course be used as integral part of our product marketing process.”

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