CheckFree Announces CheckFree TradeFlow 2.2 With Robust, Scalable OTC Derivatives Trade Processing
17 Setembro 2007 - 10:00AM
PR Newswire (US)
ATLANTA and LONDON, Sept. 17 /PRNewswire-FirstCall/ -- CheckFree
Corporation (NASDAQ:CKFR) today announced the availability of
CheckFree TradeFlow(TM) 2.2, the latest version of its post-trade
securities transaction process management solution. With this
release, CheckFree delivers an advanced workflow solution designed
to meet client demand to address the explicit requirements of
over-the-counter (OTC) derivatives processing. Specifically
designed for connectivity and post trade processing over the DTCC
Deriv/SERV central matching system, CheckFree TradeFlow can
automate the confirmation process and associated payment messages
over SWIFT to enable robust and scalable derivatives confirmation
and settlement processing. "The explosion of the OTC derivatives
market has overwhelmed the ability of traditional operations to
handle increased trading volumes. Over the last year in particular
that growth has put unusual stress on the middle and back office.
Solutions like CheckFree TradeFlow that meet these needs alleviate
the pressures of OTC derivatives processing and streamline the
end-to-end trade processing of the OTC derivatives market," said
Brad Bailey, Senior Analyst, Aite Group. Following industry demand
and increased use of OTC derivatives for performance enhancements,
leverage and hedging, CheckFree TradeFlow 2.2 can provide
operational process improvements, including pre-packaged industry
standard workflows for confirmation and settlement of OTC
derivatives. The expanded solution is designed to make a single,
post-trade process possible and to allow all asset classes and
exceptions to be managed in a single solution. "By managing the
post-trade process across all asset classes, CheckFree TradeFlow
enables clients to control spiralling operational costs," said
Geoff Harries, director of securities product management,
CheckFree. "Incorporating OTC derivatives processing into the
CheckFree TradeFlow environment will generate numerous business
benefits for our clients, including developing the operational
capability to support business growth and increase in volumes. To
address current and projected OTC volumes, a global asset
management firm has already purchased the new CheckFree TradeFlow
OTC module to reduce the manual processing it has endured in the
confirmations process." CheckFree TradeFlow 2.2 addresses the issue
of operational capacity in processing growing volumes and coping
with the precise and complex nature of OTC derivatives. The
solution focuses on an operations ability to confirm trades to
ensure contractual protection, agree on cash flows to guarantee
on-time and accurate payments and automate processes to remove
operational bottlenecks. By combining OTC automation and control
with proven scalability, CheckFree TradeFlow can help mitigate
clients' expense of finding and retaining skilled operations staff
to manually handle increasing volumes. CheckFree has participated
in the SWIFTNet FpML initiative which is focussing on the
notification workflow between investment managers and custodians to
advise of contracts. About CheckFree TradeFlow The CheckFree
TradeFlow solution can allow organizations to efficiently manage,
monitor and measure the flow of securities and cash transactions
across the enterprise and through counterparties and settlement
agents, while minimizing operational risk and increasing
operational efficiencies. For more information about CheckFree
TradeFlow, visit http://www.checkfree.com/. About CheckFree
(http://www.checkfreecorp.com/) Founded in 1981, CheckFree
Corporation (NASDAQ:CKFR) provides financial electronic commerce
services and products to organizations around the world. CheckFree
Electronic Commerce solutions enable financial services providers
to offer the convenience of online banking, and along with billers,
to offer the convenience of receiving and paying household bills
online, via phone or in person through retail outlets. CheckFree
Investment Services provides a broad range of investment management
solutions and outsourced services to hundreds of financial services
organizations, which manage about $1.8 trillion in assets.
CheckFree Software develops, markets and supports software
applications that are used by financial institutions to process
more than two- thirds of the nearly 14 billion Automated Clearing
House transactions in the United States. The division also provides
financial institutions and other organizations with payment
processing and consulting, reconciliation and exception management,
fraud and risk management, cash and logistics management, and
compliance software and services. Certain of the Company's
statements in this press release are not purely historical, and as
such are "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. These include
statements regarding management's intentions, plans, beliefs,
expectations or projections of the future. Forward-looking
statements involve risks and uncertainties, including without
limitation, the various risks inherent in the Company's business,
and other risks and uncertainties detailed from time to time in the
Company's periodic reports filed with the Securities and Exchange
Commission, including the Company's Annual Report on Form 10-K for
the year ended June 30, 2007 (filed August 24, 2007). One or more
of these factors have affected, and could in the future affect the
Company's business and financial results in future periods, and
could cause actual results to differ materially from plans and
projections. There can be no assurance that the forward-looking
statements made in this press release will prove to be accurate,
and issuance of such forward-looking statements should not be
regarded as a representation by the Company, or any other person,
that the objectives and plans of the Company will be achieved. All
forward-looking statements made in this press release are based on
information presently available to management, and the Company
assumes no obligation to update any forward-looking statements.
DATASOURCE: CheckFree Corporation CONTACT: Investors, Judy DeRango
Wicks, +1-678-375-1595, , or Media, Tina Moore, +1-678-375-1278,
both of CheckFree Corporation Web site:
http://www.checkfreecorp.com/
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