CAD IT acquires two new international clients

CAD IT announces having signed a contract with an important Italian Investment Bank for the sale of its “Finance Area” software platform and another with a leading German bank for the sale of the “Easymatch” software platform.

With these two new clients, CAD IT consolidates its market share on the national and international front.

CAD IT, leader in the Italian financial software market and quoted in the STAR segment of Borsa Italiana, announces having signed two important contracts for the sale of its software products to two new leading international clients.

The sale of “Finance Area” to an important Italian Investment Bank further consolidates CAD IT’s leading position as the main supplier in Italy of software and services for the total management of financial instruments. CAD IT’s “Finance Area” platform guarantees banks the complete management of brokerage, administration, settlement, accounting and reporting to supervisory bodies connected to domestic and foreign financial transactions. Solutions for: lending and borrowing, bond issues and static data repository, are just some of Finance Area’s successful middle and back-office subsystems that CAD IT offers the market.
The purchase agreement involves the use of Finance Area for managing investment and retail banking activities on a national and international level.

CAD IT’s sale of “Easy Match” to a leading German bank marks further international success.
This new contract joins the one drawn up in 2006 with XTB, a Business Process Outsourcing company belonging to the Xchanging Group in Germany which uses “Easy Match” to provide services to leading German banks, Deutsche Bank included.
“Easy Match” is a solution created entirely by CAD IT for the reconciliation of any type of data processing flow: securities, cash, forex & money market, derivates and accounting flows. The capacity to deal with positions and single transactions makes this instrument suitable for Front Office with Front Office, Back Office with Back Office and Front with Back reconciliations.
Its functions in terms of investigation support and archiving many past years of information as well as its granular management of authorisation profiles make it a complete and flexible instrument able to adapt itself to the various organisational models of financial institutions.

The “Finance Area” and “Easy Match” procedures are both part of the CAD IT’s multi-lingual product range and can be used on the internet through the most well-known browsers and on the most commonly available hardware and software platforms.

Both new clients have opted for CAD IT solutions for the configuration of SUN infrastructure with Oracle databases.

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These new contracts will jointly affect consolidated revenues in 2009 by about 4% and by a further 4% in 2010. The maintenance fees, which will become effective at the end of the project, will increase CAD IT revenues, in terms of maintenance services, by about 5% during the following years.

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Giuseppe Dal Cortivo, Chairman and Managing Director of CAD IT, said: “We are extremely honoured that two outstanding financial institutions are now on the CAD IT client list. These positive results encourage us to continue to invest in creating new and increasingly innovative solutions to support our clients’ business activities”.