FIGARO achieves B.I.S.S. MiFID Accreditation

London - 16 August 2007

B.I.S.S. Research, the exclusive research company offering a unique benchmarking of services and systems in the financial services sector, today announced the JHC system FIGARO has successfully achieved MiFID benchmark tests organised by B.I.S.S. Research.

Gary Wright, C.E.O., B.I.S.S. Research and creator of the B.I.S.S. business benchmarking concept said “JHC are only the third software vendor to prove that their system has functionality that could be used to support business requirements emanating from MiFID.

The benchmarking process highlighted functionality areas where FIGARO is strong in MiFID capability and also noted where further enhancements are currently being developed that will produce new exciting systems support for FIGARO users in a post MiFID market.

The benchmarking report shows a potentially terrific future for FIGARO in the growth areas of systems and business process outsourcing. This opportunity will be developed through OMX Securities utilising FIGARO in the back office for hire business.

The benchmarking panel marked highly the integrated design of FIGARO and its high watermark capability to produce real STP. The analyst noted that the FIGARO design offers MiFID values by operating from a consolidated database enabling a top class reporting capability. The full report on FIGARO and the benchmark tests is available from www.bissresearch.com. It is anticipated that further MiFID benchmarking announcements will follow in the near future”

JHC Plc, Managing Director, John Blackman said “We are pleased to be one of the first software vendors to achieve the B.I.S.S. MiFID Accreditation. From our primary investigations, together with client consultations a year ago, we were convinced that FIGARO had most of the existing functionality and, where required, the capability to develop MiFID compliant software. The analysis by B.I.S.S. confirms our belief in the all round quality and flexibility of FIGARO.”

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