Misys Treasury Plus extends relationship with Dutch pension fund, PGGM, to settle FX trades via CLS

London / New York – 26 October 2006

Misys Banking Systems, a global leader in banking software and solutions, today announces that Dutch pension fund PGGM is now settling foreign exchange trades via Continuous Linked Settlement (“CLS”) through its use of the Misys Treasury Plus automated third-party trade notification service.

PGGM has been a Misys customer for many years, taking advantage of the industry-leading Misys Treasury Plus post-trade confirmation matching service. In 2005, when PGGM took the strategic decision to move its foreign exchange settlement process to the CLS platform, it immediately looked to Misys to provide connectivity to its chosen CLS third party provider.

Without using Misys Treasury Plus, PGGM would have had to build a whole new interface directly to its Settlement Member, which would have been costly and time consuming. Using standard SWIFT messaging, Misys Treasury Plus has given PGGM a cost effective, more efficient and more rapid way to communicate with its CLS settlement member.

The solution automatically generates and delivers trade notification messages to PGGM’s chosen CLS member bank, for CLS eligible trades. PGGM began using the Misys CLS service in February 2006 and is now settling a large percentage of its foreign exchange trades over CLS, with volumes still on the rise. Misys Treasury Plus has provided PGGM with a single application to manage its CLS and non-CLS FX trade confirmations, saving costs and improving efficiencies in the business.

Ben Evers, Functional Application Manager, PGGM, comments, “PGGM has a long-standing relationship with Misys, using its treasury confirmation matching solution, Misys Treasury Plus, which is fully integrated with our treasury management system. We submit all of our foreign exchange trades to Misys for matching and it was therefore natural that we should look to them to facilitate the messaging component between PGGM and our chosen CLS Settlement Member. We are extremely pleased with the solution that Misys provides and we are now benefiting from the reduction in settlement risk and operational efficiencies that being a CLS participant brings.”

Neil Macro, Product Solutions Manager, Misys Global Managed Services, adds, “We are delighted to be able to bridge the gap between PGGM and its CLS settlement member and to automate its back office processes further. Making use of our SWIFT messaging capabilities, we can immediately deliver trade notification messages to any CLS Settlement Member in a generic, industry standard format. This solution lends itself perfectly to Misys Treasury Plus customers wishing to become CLS participants, without the need to build additional complex interfaces with their chosen CLS third party provider.”

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