E.ON Upgrades Corporate Treasury with Wall Street Systems

New York, London, Frankfurt - 2 December 2009

Wall Street Systems (Wallstreet), the global provider of treasury, trading and settlement solutions and services, today announced the global go live of Wallstreet Suite version 7 for E.ON, the German utility. With annual sales of just under EUR87 billion and 93,500 employees, E.ON is one of the world's largest investor-owned power and gas companies.

E.ON has been a client of Wallstreet since 2003, and the go live has gone ahead a month earlier than planned and under budget.

The upgrade covers all E.ON subsidiaries and enables E.ON to take advantage of the numerous enhancements and improvements provided with version 7. By utilising Wallstreet Suite's cash management functionality, E.ON will be able to manage their risk and liquidity planning in a single application.

Wall Street Systems has a significant presence in the German corporate treasury market, working with some of the country's leading companies. Major clients in Germany include; BMW, Commerzbank, Daimler, DekaBank, Deutsche Bank, Deutsche Bundesbank, Deutsche Post, European Central Bank, Henkel, IKB, Landesbank Berlin and RWE.

Torsten Spieker, Vice President, E.ON said: "We are delighted with the improvements Wallstreet Suite brings to our Cash and Liquidity Management, as well as our risk management processes. We no longer have the duplication of cash reconciliation in the front office, and book reconciliation in the back office - we now have a single reconciliation process as bank statements are imported and reconciled by the back office. This enables more timely and efficient management of both cash and liquidity positions. With over 80 of our European entities' accounts in our in-house banking setup, further efficiencies are expected as we embark on routing all intercompany payments internally via the Wallstreet Suite solution."

Terry Beadle, Managing Director, Wall Street Systems said: "We are delighted to play a key role in the treasury management of leading German corporations, and supporting E.ON by providing them with the industry leading functionality incorporated in the latest version of Wallstreet Suite."

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