Fundtech Further Enhances CLS Solution to Streamline FX Trading

26 September 2006

New modules facilitate STP for additional FX instruments

Fundtech Ltd. (NASDAQ: FNDT), a leading provider of end-to-end corporate banking and securities processing software and services, today announced the availability of several supplementary modules for PAYplus for CLS™. Following client demand and evolution of the CLS market, the new modules have been created to enhance PAYplus for CLS to support FX instruments new to CLS settlement as well as advancing the application’s capabilities.

PAYplus for CLS is designed to provide sophisticated interoperability between settlement members, user members, and third party participants. The comprehensive solution provides an integrated collection of advanced CLS services enabling banks to eliminate foreign exchange (FX) settlement risk, streamline operations and gain new market share. New modules of PAYplus for CLS include:

Non-Deliverable Forwards and FX Option Premiums Modules

PAYplus for CLS provides enhanced functionality to manage non deliverable forwards and FX option premiums in support of CLS Bank’s acceptance of these instruments. These new modules will support XML messaging while continuing to support the current CLS API architecture. Clients can easily manage the overall convergence of FX instruments into a single pipe for processing settlements, improving operational efficiency whilst reducing errors and processing costs from manually intensive operations like NDFs. This module is also available as a stand-alone solution for organizations that do not currently use PAYplus for CLS.

Custody Module

The PAYplus for CLS Custody Module enables clients to capture, process, and monitor the settlement of custody FX trades at either a broker only or full custodian level. It offers a variety of flexible features that seamlessly integrate with existing FX operations.

Thin Client for Third Parties Module

The Thin Client for Third Parties Module offers an intuitive graphical user interface (GUI) that provides rich functionality and is optimized for rapid response, even when users are confronted with low bandwidth or network latency issues. Users can perform common tasks such as trade entry, payment processing and status monitoring while leveraging features that streamline analysis and trade executions.

Report Scheduler Module

The Report Scheduler Module provides flexible, secure automated report generation to make operations more efficient and guarantee timely access to critical information. Users are able to pre-set timing and report parameters to generate accurate and consistent trade and administration reports. The Report Scheduler Module includes more than 100 standard reports.

Netting Module

The Netting Module allows PAYplus for CLS customers to net trades between its branches and its customers, together with CLS settlements by providing a single consolidated Pay-In/Pay-Out schedule to simplify reporting and improve customer satisfaction. It offers the functionality to net CLS currency trades between a settlement member, their branches and their third parties, and also offers support for non-eligible currencies in advance of expected future support from CLS.

“Fundtech is committed to continuously advancing the features of PAYplus for CLS. Our close association with CLS allows us to be at the forefront of current and future market requirements. Our in-depth understanding of the existing and future CLS business requirements enables us to plan ahead in terms of future FX settlement requirements,” said Mike Sgroe, president and COO, Fundtech."

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