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CMC Markets selects Gresham CTC to reconcile global cash movements

April 30, 2014



London -- Gresham Computing plc today announced that CMC Markets, one of the leading providers of financial spread betting and CFD trading, is implementing Gresham's Clareti Transaction Control solution (CTC) to automate the reconciliation of cash movements across its global operations. CTC is being deployed across the firm's Nostro Reconciliation teams in the UK and Australia.

Gresham CTC gives CMC Markets increased flexibility, scalability and the ability to quickly on-board reconciliations for new instruments and transaction types. CMC Markets was looking for an innovative solution, which it could deploy globally, and which would scale easily as its business grows.

By reconciling cash movements across all areas of CMC Markets' business, including spread betting, CFD and forex transactions, CTC will immediately highlight any discrepancies that occur helping CMC Markets to minimise operational risk and benefit from real-time financial certainty.

"As part of our commitment to innovation and providing the highest level of customer service, we look to partner with organisations who take a similar approach in their business. Gresham's CTC solution really stood out for its ability to deploy new reconciliations quickly and cost effectively. The Gresham team understood our needs from the outset and is working closely with us to help us gain maximum benefit from the roll out of CTC including enhanced governance and control," said David Worsfold, Head of Operations for CMC Markets.

Thanks to CTC's unique on-boarding wizard, CTC Onboarding Accelerator, the implementation at CMC Markets will be straightforward and intuitive. CTC Accelerator orchestrates the on-boarding of all reconciliations without the need for time-consuming data transformation or manual configuration of schemas, matching rules and dashboards. This will allow CMC Markets to rapidly configure new reconciliations as required.

"CMC Markets is widely recognised as an innovator in the spread betting and CFD trading arena and recognises the benefits the latest technology can bring as it expands its business. As the volume of transactions it handles continue to grow, it's essential that CMC Markets can reconcile its cash positions in real time and achieve real-time financial certainty across its entire portfolio," said Bill Blythe, Global Business Development Director, Gresham Computing.

About CMC Markets

CMC Markets is a leading global provider of financial spread betting, CFD and foreign exchange (FX). Since Peter Cruddas founded CMC Markets in 1989, the company now has offices in London, Paris, Milan, Madrid, Frankfurt, Oslo, Stockholm, Toronto, Sydney, Auckland, and Singapore, CMC Markets represents clients in almost 100 countries.

For further information visit: http://www.cmcmarkets.co.uk

About Clareti Transaction Control

Gresham's Clareti Transaction Control solution (CTC) has been designed to provide financial and corporate institutions with real-time financial certainty(r) in their reconciliation processing. CTC enables customers to quickly and accurately identify and resolve operational risks, reduce financial transaction loss events, optimize business performance, and comply with regulatory requirements. Gresham's approach allows real-time, business driven controls to be put in place as soon as a new financial product is created. This means any errors can be identified and rectified from the start (T+0), preventing potential discrepancies or loss events. CTC combines best-in-class performance with future proofed technology and has proved itself to be the fastest reconciliation product in its class.

About Gresham Computing

Gresham Computing plc is a leading provider of software solutions to international financial and corporate institutions and is listed on the main market of the London Stock Exchange (GHT.L). With over 30 years' experience and headquartered in the City of London, our many customers include several of the world's largest financial institutions, all of whom are served locally from offices located in Europe, North America and Asia.

Further information can be found at www.gresham-computing.com or follow us on Twitter @Greshamplc

Media contact:

Rhiannon Davies

Metia Ltd

T: +44 20 3100 3508

E: rhiannon.davies@metia.com

.


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Source: M2 PressWIRE


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