Eighth SWIFTReady Gold Win In a Row for Trace Financial Ltd

News Release 8th June, 2006
Trace Financial Limited (part of Trace Group plc) today announced that its market leading financial messaging solutions Cloverleaf®finance and Transformer have been awarded the SWIFTReady Financial EAI Gold label in the Financial EAI (Enterprise Application Integration) category for the eighth consecutive year. This is a unique achievement in the marketplace.

Cloverleaf®finance allows disparate systems to share information and deliver seamless, non-invasive integration of internal systems both with each other and with external services. It is an ‘out-of-the-box’ solution for interface management, message conversion, routing, message audit and has inbuilt testing capabilities.

“We are delighted to receive this coveted recognition of Cloverleaf®finance excellence for the eighth year in a row”, said Nick Tonge, Sales Director of Trace Financial. He added, “Yet again, this puts Trace ahead in terms of our software solutions, experience and ability to deliver. Our customers find it very reassuring to partner with the industry experts.”

The SWIFTReady Financial EAI Gold label also covers Transformer, the proven Java and XML based data dictionary transformation tool from Trace. It is designed to cope with new and constantly evolving message standards that are the day-to-day challenge representing the greatest ongoing risk and cost to major financial institutions. Transformer’s unique approach allows business analysts or programmers to deal with the demands created by evolving messaging standards.

"We appreciate Trace Financial’s enthusiasm and ability to quickly deliver SWIFT ready advanced technology to our clients" said Eric Meirlaen of SWIFT, adding “The partnership between SWIFT and Trace Financial helps our joint customers to achieve straight-through processing and lower operating costs when connecting to SWIFT’s global financial community.”

John Murphy, managing director of Trace Financial, said “SWIFTReady Gold for eight years is not only a record but it also reflects on the quality of our staff; our commitment to world-leading technology and excellent customer service. Cloverleaf is as good as a message broker could be and Transformer is a unique technology that allows the enterprise to master the challenge of all complex financial messaging standards. The co-existence of multiple messaging standards ceases to be an issue and the challenges of interacting with SWIFTNet solutions such as Exceptions and Investigations, Funds or Corporate Actions or Cash Reporting are greatly simplified.”

To achieve the SWIFTReady Financial EAI Gold label, products have to support the full SWIFT message library including Market Practice compliance for ISO15022 messages, demonstrate facilitation of Straight Through Processing (e.g. by transformation and routing capability) and offer various connection methods to the SWIFTNet network via SWIFTAlliance. Only software products that are compliant with all tests, including the proactive implementation of new SWIFT standards, receive the SWIFTReady Financial EAI Gold label.

Editor’s Notes

About SWIFTReady Awards
SWIFTReady is an accreditation program run by SWIFT for various categories of software such as payment systems, reconciliation systems etc. Cloverleaf®finance and Transformer are categorised in the Financial EAI - Enterprise Application Integration segment, and signifies a specified level of interoperability with the SWIFT network.

www.swift.com

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