ex-it opens in London

London, 22nd February, 2001: Top Austrian software and systems house ex-it today announced partnerships with i-flex solutions and LogicScope at the launch of its London operation. The two partnerships raise ex-it’s front-to-back office product range to the level of a "full-value-chain" contractor among the very small number of global information and processing suppliers capable of building a complete virtual bank on the web.
On Thursday February 22nd at the official opening of ex-it (UK) Ltd at the London Capital Club ex-it CEO Dr. Christian Imo (former head of the Vienna Stock Exchange and the Austrian futures and options exchange) and ex-it (UK) CEO Peter D. Sharrock (former director of Reuters Information Strategy Group) introduced the company and its strategy on entering the UK market. Dr. Imo led a panel discussion on the impact of e-finance on securities trading in Europe. Panel members included the new ex-it business partners i-flex solutions and LogicScope as well as the new electronic exchange Jiway and another London arrival, NASDAQ’s top market maker Knight Securities.

Leading suppliers of e-finance solutions in Austria ex-it is the leader in e-finance solutions in Austria. Its special mix of finance and technology expertise provides "one-stop-shopping" solutions in e-systems, e-services and e-consulting. ex-it provides straight-through-processing solutions in online brokerage and online banking. It also provides out-sourced data centres, back-office processing and call centres. ex-it e-consulting provides strategic consulting, integration and support.

Dr. Imo said ex-it was coming to London because of the city's great potential for e-finance: "London is undoubtedly the hub of European financial markets. However, in the field of financial online services, Great Britain lags somewhat behind continental Europe."

By late 2001 ex-it will be in 8 European countries. The London operation is an important step towards building a pan-European business network. ex-it already operates in Athens, Bratislava and Budapest, and will shortly open in Prague, Sofia, Frankfurt and Zurich.

strategic cooperation with the leading supplier of all-purpose banking solutions:
i-flex solutions
On the occasion of the London opening, the company announced the signing of a partnership agreement with i-flex solutions Ltd (http://www.iflexsolutions.com/index.htm).

i-flex is the leading developer and provider of core banking systems in the fields of wholesale banking with corporate banking, investment banking and treasury as well as retail banking. It has an integrated back office with SWIFT, as well as a comprehensive integrated general ledger accounting system and data-warehouse. More than 1,400 developers and specialists work for this global group, which has five development centres in Pune, Bombay and Bangalore as well as subsidiaries in the UK, Netherlands and South Africa. i-flex has clients in 70 countries. Its main product Flexcube has 68 users, making it the world number 2 in all-purpose banking suppliers. Its certification as a SEI-CMM level 5 software development enterprise puts i-flex in the top 25 software developers worldwide (not just in banking).

i-flex was represented by European CEO David Maxwell who commented “We are continually reviewing and evaluating strategic opportunities; the ex-it relationship has enormous potential and was the obvious choice”.

Partnership with the leading MDS connectivity supplier LogicScope
Another cooperation agreement was announced with LogicScope Realisations Ltd (http://www.LogicScope.com). Dr. Imo said "With LogicScope as our partner and through our universal excom communications, process and middleware platform we gain access to the entire world of professional market data suppliers. The LogicScope connectivity solutions and their strategic core product LiveXML extend the compatibility of excom to all major data feeds." Nick Dyne, CEO of LogicScope said, "We are a major provider of wide area network solutions for the movement of market data transactions. The opportunity ex-it presents is very exciting; as a major vendor, ex-it’s support of LiveXML is very important to us".
These two partnerships take the front-to-back office global offering of ex-it to the level of a full-value-chain general contractor capable of building an entire virtual bank on the web.


In the UK
John Norris
Moonlight Media Ltd.
Tel: +44 (0) 20 7250 4770
Email: john@moonlightmedia.co.uk
ex-it (UK) Ltd
Peter Sharrock
148 Leadenhall Street
EC3V 4QT London
Tel: +44 (0) 20 7648 8460

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