Unique ability to manage cross asset international processing demands identified as key differentiator in £1.2M contract
LONDON, May 30, 2019 /PRNewswire/ -- Gresham Technologies plc, the leading software and services company that specialises in providing real-time data integrity and control solutions, announced today that it has signed a strategic contract with a leading global multi-asset class Clearing House.
The firm has selected Gresham's Clareti platform, including Clareti Transaction Control and Clareti Adaptors, to replace fragmented legacy tools and manually intensive reconciliation and control processes with a new enterprise-wide solution to be used across the firm's international clearing operations. This will materially enhance the client's ability to provide risk management and central counterparty services to market participants by improving transparency and accuracy alongside increased control of its data spread across asset classes, business units and functions.
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 rigorous evaluation ruled out alternative market offerings as they were found to lack the agility and sophistication required for the international processing demands.
The 5 year term, worth £1.2M in value, represents Gresham's third contract of over £1M closed in 2019 to date.
Ian Manocha, CEO, commented:
"We are delighted to be partnering with this highly respected firm that offers 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 a systemically important market infrastructure and service provider, is another positive indicator of progress."
Bill Blythe, Global Business Development Director at Gresham said,
"This prestigious clearing house is a critical cog in the international financial markets in terms of clearing services, portfolio margining, and collateral standards, and we are proud to be adding them to our growing roster of clients. They truly value increased control and improved data integrity in a high volume, highly complex, and highly regulated environment. The level of diligence and time invested by the client to compare all the solutions out there, really endorses just how much of a leader the Clareti platform has become."
About Gresham Technologies plc
Gresham 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. Learn more at www.greshamtech.com.
SOURCE Gresham Technologies plc