GHT.L Share News (GHT)

LONDON (Alliance News) - Gresham Computing PLC said Monday that it continues to make strong commercialisation progress with its new product, Clareti Transaction Control, and says its financial performance remains on track.

In an interim management statement, the provider of financial software and technology said that the new product had performed well during the reporting period, July 1 2013 to November 15 2013, driven in part by an unnamed insurance broker purchasing the CTC product.

Gresham said the broker took on the product to increase the level of automation in its matching and reconciliation of transactions with counter-party insurers.

The firm said that during the period it commenced a paid project with a global investment bank to use CTC as a matching and reconciliation platform by its clients.

Following its announcement in June this year of a contract with a Tier 1 investment bank to deploy CTC, the firm said that the first of the real-time intersystem matching projects with the bank went live during the reporting period.

Gresham said its financial performance and position is on track as it balances, "investment in growth with short term financial objectives," and said its outlook remains strong and that it has a good mix of new CTC sales opportunities at an advanced stage.

Chris Errington, CEO of Gresham, said, "We continue to make strong progress commercialising our exciting new product CTC. I am pleased to report growth in CTC customer numbers and remain confident that our customer base will continue to grow for the remainder of 2013 and beyond."

Shares in the software firm are trading at 135.90 pence per share Monday morning, up 2.18%.

By Alice Attwood; aliceattwood@alliancenews.com; @AliceAtAlliance

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