“CheckFree, now part of Fiserv, Inc. (NASDAQ: FISV), a leading provider of information technology services to the financial industry,today announced that a leading European asset manager has gone live with its post-trade processing solution, CheckFree TradeFlow, for OTC Derivatives. The implementation extends the existing CheckFree TradeFlow deployment for securities, foreign exchange and money markets, enabling the firm to create a single, integrated, post-trade processing platform across all asset classes. Deployed at its corporate headquarters, the CheckFree TradeFlow solution for OTC Derivatives is being implemented by the asset manager in two key phases. The first phase, now live, delivers confirmation processing and advanced exceptions handling for credit derivatives trades through DTCC Deriv/SERV. Phase two is designed to implement a complete post-trade event management solution and support for additional business processes, including terminations, assignments, increases and amendments. The asset manager has worked in close cooperation with CheckFree to develop a comprehensive solution, enabling all trade confirmation and post-trade activities to be managed throughout the lifecycle. ‘Improving post-trade processing capabilities is imperative when more than 50 percent of a client's workload can be spent dealing with terminations, novations and amendments,’ said Geoff Harries, vice president, product strategy, CheckFree Investment Services Software. ‘Add to this, the move by the Federal Reserve requiring 75 percent of OTC derivatives confirmations to be electronic by January 31, 2009 for all subsidiaries of US companies means that efficient operational capabilities are a pre-requisite rather than a 'nice to have'. CheckFree TradeFlow is a powerful automated solution that ensures real-time awareness of exceptions, risks and status, enabling clients to act immediately within a single post-trade processing platform.’”
http://www.tradingmarkets.com/.site/news/Stock%20News/2165362/
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