New Deals Bring Total Number of Cloverleaf® finance Clients to Eight for SWIFT Messaging on OpenLink’s Findur System

15 September 2008

Trace Financial today announce that three new clients have signed for SWIFT processing with Cloverleaf®finance via Trace’s collaboration with OpenLink. The messaging part of the overall solution includes two-way message flows, connectivity to SWIFT gateway devices, transformation between SWIFT and Findur message standards as well as monitoring of the interface. These new clients bring to eight the total users of this interface which spans a broad range of message types (MT 100, 200, 300, 500, 600, 900).

John Murphy, M.D. of Trace Financial commented “This is a complex solution that has been made easy for the users by the collaboration between two companies committed to customer service. Major clients on many continents are the beneficiaries of this approach and of our ongoing support which keeps the solution compliant with evolving SWIFT standards.”

Findur’s substantive benefits include: immediate preview of a formatted SWIFT message, the ability to maintain and view a complete audit trail of message creation, release, ack and nak, the creation of straight-through-processing (STP) rules and validations to ensure message integrity before it is released, fully customizable SWIFT message formatting, and automatic assignment of different templates of a given message format to a deal based on its attributes (e.g., counterparty, custodian).

Kevin Hesselbirg, CEO of OpenLink remarked “We are extremely pleased to have a long-standing relationship with Trace Financial. As we progress with this alliance, by combining the functionality of Findur and Coverleaf®finance, we continue to provide our clients with market-leading, best-of-breed functionality.”

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