Uniondale, NY, September 2, 2005 â OpenLink, a leading financial trading and risk management software provider, announced today that its three-year partnership with Trace Financial, a leading supplier of advanced messaging technology, has led to proven success and continued praise from clients such as Dexia CrÃ©dit Local, a notable European financial institution.
In 2002, OpenLink and Trace Financial entered into a joint partnership to develop a fully integrated SWIFT messaging solution. The Open Settlement Solution was formed by incorporating Trace Financialâs CloverleafÂ®finance advanced messaging technology into OpenLinkâs Findur solution.
Dexia CrÃ©dit Local, an OpenLink client employing the Findur solution, is the principal provider of financial services to local public institutions. Djamal Medoulaki of Dexia CrÃ©dit Local noted, "Selecting OpenLinkâs Open Settlement solution provides us with an embedded core SWIFT message set that facilitates the delivery of trade confirmations and payments related to FX&MM, swaps, and a range of other messages. OpenLink and Trace Financial showed us that their integrated solution best fits our demands."
Evaluating risk across markets, Findur provides a secure, reliable, and extendable straight-through, exception-based processing (SteP) environment for trading, operations, compliance, and workflow management across derivatives, fixed income securities, FX, money markets, base and precious metals, energy, and other commodities. Naren Patel, director of marketing at Trace noted, "CloverleafÂ®finance facilitates the delivery of trade confirmations and payments via SWIFT, and a range of other messaging protocols including FIX, XML, CREST, Euroclear, etc."
Coleman Fung, founder and CEO of OpenLink, commented, "We continue to progress with this partnership and by combining the functionality of Findur and CloverleafÂ®finance, we continue to provide our clients with market-leading, bestof- breed functionality."
Both Trace Financial and OpenLink will be sharing the stand # C339 and showcasing these products at the SIBOS conference and exhibition in Copenhagen, Denmark, September 5-9, 2005.