TAS and Bit Systems to Launch of a Turnkey System to Cover the Outsourcing of Technological Platforms for Trading, Clearing and Settlement

24 September 2008

BIt Systems (IT Company of Borsa Italiana – London Stock Exchange Group) and TAS signed an agreement that allows TAS to provide the banks and financial intermediaries with a new service of trading, clearing and settlement for equities, derivatives and funds. The new service, named Plug & Go, consents to customers to outsource the management of TAS software, hardware and networking infrastructures.

Access to the new systems and related services will take place via the two data centres of BIt Systems, located in Milan and London, and also through BIt Systems telecommunications network. Managing platforms in outsourcing through Plug & Go service allows customers to:

- focus on the financial core business
- reduce time-to-market
- minimize hardware and networking equipment investments
- increase the performance of technological platforms and reduce operating costs

Cooperation between TAS and BIt Systems on this project begins with the connection to TradElect. Plug & Go service allows banks and financial intermediaries to trade on the new platform without changing the existing technological infrastructure With an easy and competitive connection.

Plug & Go already counts 4 clients (among them Banca Finnat and Centrosim) which confirmed their attitude to innovation and their trust in TAS.

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