MFEX realises benefits from MA-CUG from EGP/Financial Tradeware

Sibos 2006, Sydney - 9 October 2006

One year on - STP model includes SWIFTNet Funds messages

Financial Tradeware, provider of Portfolio and Fund Management Straight Through Processing (STP) solutions for investment managers, fund managers and hedge funds, today announced their client, MFEX of Stockholm continues to successfully realise the promised benefits from its participation in the EGP/Financial Tradeware (EGP/FT) Member Administered Closed User Group (MA-CUG). Together with SWIFT, MFEX and its technology partner, Financial Tradeware have also issued a case study that details these benefits and why this route to cost effective connectivity and automation has been successful for them.

Oliver Lagerstrvm, Chief Operating Officer, MFEX comments:"One year after joining the EGP/FT MA-CUG we are delighted to have realised the promised benefits of this service. As our business grows, the importance of efficient, cost effective and secure financial messaging between ourselves and our counterparties is paramount. Participation in the EGP/FT MA-CUG has provided us with access to SWIFTNet which in turn enables us to scale up as our client base and message volumes increase."

Graham Bright, Managing Director, Financial Tradeware adds: "We are naturally delighted that MFEX have achieved the desired results and the EGP/FT MA-CUG service has realised tangible benefits for them. We see the challenge for organisations like MFEX is to identify the right technology partner who has the expertise to understand their business and ability to implement affordable, scaleable solutions to support them both today and into the future. We are very pleased to have delivered on our promise of supporting our client with a viable cost-effective solution".

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