General Motors selects GlobeOp for OTC Derivative Collateral Management Services

New York - London - 7 September 2010

General Motors has selected GlobeOp Financial Services (LSE: GO.) as its service provider for daily collateral management, valuation and reconciliations across its over-the-counter (OTC) derivatives portfolio.

GlobeOp will support General Motors' Treasury department with the management of foreign exchange, commodity and interest rate derivatives. Services include collateral management, reconciliation and independent valuation analysis of complex securities.

"Reducing operational risk through diversified counterparty exposure and close collateral management is an important fundamental best practice,"said Jon Anderson, GlobeOp head of Valuations and OTC Derivatives. "In addition to partnering with our experienced OTC group, General Motors'Treasury team will be able to monitor work flows and trade processing through GoOTC(tm), our transparent, web-based, real-time portal. GoOTC also enables the Treasury team to drill down to specific trade details and to the ISDA master details for each counterparty."

The mandate is part of GlobeOp's Transaction Solutions offering.

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