USD 1.3m Clareti contract win with Tier 1 bank

RNS

30 December 2022

Gresham Technologies plc

USD 1.3m Clareti Connect contract win with Tier 1 bank

Gresham Technologies plc (LSE: "GHT", "Gresham", "Group", "Company"), the leading software and services company that specialises in providing solutions for data integrity and control, banking integration, payments and cash management, is pleased to announce a new contract win for Clareti Connect in the banking industry.

On 29 December 2022, one of world's largest banks, an existing customer, signed an enterprise agreement to extend the use of Connect across their entire post trade prime brokerage business. The solution will replace legacy FIX processing infrastructure in order to streamline market connectivity and client onboarding.

The initial contract has a five-year committed term with minimum incremental subscription fees of USD 1.3m over that period, and additional recurring usage-based fees and one-off fees for professional services.

Ian Manocha, CEO commented:

"Gresham helps financial institutions manage their workflow across the entire trading landscape by providing connectivity, automation, and control.

With our Connect solution we can consolidate and harmonise all post-trade workflow from different sources into a single streamlined data model. This means we can immunise our customer from upstream changes and reduce the friction associated with client on-boarding and maintenance.

We are delighted to have been selected to provide this strategic solution for an existing customer that we have been working directly with since our acquisition of Inforalgo in July 2020. This contract, which was concluded after a short sales cycle, significantly increases the customer ARR and demonstrates that we have the technology, industry expertise and contractual relationships to deliver on our land and expand strategy."

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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 solutions for data integrity and control, banking integration, payments and cash management. 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 and corporates, all of whom are served locally from offices located in the UK, Europe, North America and Asia Pacific.

Gresham's award-winning Clareti software platform is a highly flexible and scalable platform, available on-site or in the cloud, designed to address today's most challenging financial control, risk management, data governance and regulatory compliance problems. Learn more at www.greshamtech.com.