Rhyme Systems ‘Fiscal’ achieves MiFID Accreditation

London - 7 January 2008

B.I.S.S. Research, the exclusive research company offering a unique benchmarking of services and systems in the financial services sector, today announced that Fiscal, a Rhyme Systems solution, has been benchmarked against MiFID requirements and has been awarded the B.I.S.S. MiFID Accreditation. The endorsement reinforces the capability of the stock broking and accounting service and will assist financial institutions as they seek to achieve MiFID compliance.

Gary Wright, C.E.O., B.I.S.S. Research and creator of the B.I.S.S. business benchmarking concept said “Fiscal is an established financial solution that has a proven track record and a loyal customer base. Our benchmarking has uncovered the considerable investment Rhyme Systems has made in producing a solution that meets the needs of the stock broking and accounting community. MiFID marks the beginning of these challenges, as financial institutions seek to comply with existing regulatory requirements and bid to remain competitive in the future.

“We were amazed by the quality of the new development and the enhancements put in place by the Rhyme Systems development team deserve significant praise,” added Wright. “We are therefore delighted that the industry panel awarded Fiscal a B.I.S.S. Logo.”

Bob Whigham, Director Software Operations, Rhyme Systems commented “Fiscal is a proven multi currency, multi-firm settlement system that continues to support agency and principal trading settlement. While the service already has a collection of high profile UK investment management firms on its books, the MiFID accreditation provides excellent third party endorsement for future prospective customers.”

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