Last checked at 30 May 2019 07:00
RNS
30 May 2019
Gresham Technologies plc
Significant Clareti contract with global provider of clearing services
Gresham Technologies plc (LSE: "GHT", "Gresham" or the "Group"), the leading software and services company that specialises in providing real-time data integrity and control solutions, is pleased to announce that it has signed a strategically significant contract with a global central counterparty (CCP) and rates and multi-asset class clearing house.
Following a robust evaluation of current market offerings, the firm has selected Gresham's Clareti platform, including Clareti Transaction Control and Clareti Adapters, to replace multiple fragmented tools and manually intensive reconciliation and control processes with a new enterprise-wide solution to be used across the firm's international clearing operations. In particular, the Clareti platform was recognised for its unique ability to handle all the complex message structures, file types and database formats found in the OTC and listed interest rates, fixed income, FX, CDS, equities and commodities markets as well as a myriad of other use cases.
The total committed software fees chargeable under the subscription contract are approximately £1.2 million over the 5-year initial term.
Ian Manocha, CEO, commented:
"We are delighted to be partnering with this highly respected firm who offer clearing services to market participants across multiple continents and asset classes.
The Clareti platform is becoming accepted as the new industry standard for enterprise data integrity and control for participants in the capital markets, and this decision by an important market infrastructure and service provider is another very positive step towards that goal."
Enquiries
Gresham Technologies plc | +44 (0) 207 653 0200 |
Ian Manocha | |
Tom Mullan | |
N+1 Singer (Joint Broker) | +44 (0) 207 496 3000 |
Shaun Dobson / Lauren Kettle (Corporate Finance) | |
Tom Salvesen (Corporate Broking) | |
Cantor Fitzgerald Europe (Joint Broker) | +44 (0) 207 894 7000 |
Philip Davies | |
Richard Salmond |
Inside information
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ("MAR"). Upon the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.
Note to editors
Gresham Technologies plc is a leading software and services company that specialises in providing real-time data integrity and control solutions. Listed on the main market of the London Stock Exchange (GHT.L) and headquartered in the City of London, its customers include some of the world's largest financial institutions, all of whom are served locally from offices located in Europe, North America and Asia Pacific.
Gresham's award-winning Clareti software platform has been designed to provide financial institutions with complete certainty in their data processing. Clareti is a highly flexible and fully scalable platform for ensuring the integrity of data across an enterprise. It is designed to address today's most challenging financial control, risk management, data governance and regulatory compliance problems.