Singapore Exchange Deploys CheckFree TradeFlow to Develop SGX Prime Service
October 08 2006 - 8:00PM
PR Newswire (US)
ATLANTA and SYDNEY, Australia, Oct. 8 /PRNewswire-FirstCall/ --
Sibos Conference Booth L08 -- CheckFree Corporation (NASDAQ:CKFR)
today announced that Singapore Exchange Limited, Asia Pacific's
first demutualised and integrated securities and derivatives
exchange, will deploy the CheckFree TradeFlow(TM) solution in its
SGX Prime service for post-trade processing of securities at the
Singpore Exchange Central Depository. "Lowering costs and
increasing value for market participants are the keys to the
Singapore Exchange building an enduring marketplace in Asia," said
Daniel Tan, executive vice president and head of operations at
Singapore Exchange. "We selected the CheckFree TradeFlow solution
to develop SGX Prime for our straight-through processing (STP) hub
based on its proven technology and its ability to deliver improved
management control and transparency in post-trade processing." SGX
Prime is an open access hub that allows scalable, efficient and
effective transaction management across a broad range of financial
instruments and product segments. The integration of CheckFree
TradeFlow into SGX Prime allows brokers, depository agents and
other market participants to engage in post-trade services, with a
choice of connectivity options for clearing and depository systems,
including ISO 15022 messaging standards. Market participants can
connect direct through to SGX Prime to input their settlement
instructions for matching prior to settlement in the Singapore
Exchange Central Depository. "The selection of CheckFree TradeFlow
for this strategic implementation with the Singapore Exchange
underscores its market position as the post-trade processing
solution of choice. CheckFree's Applied Operational
Intelligence(SM) approach combined with our proven track record in
building centralised processing hubs with other similar companies,
along with our local commitment to the Asia-Pacific market, made
CheckFree the logical partner for Singapore Exchange," said Preston
Hoffman, senior vice president and general manager of CheckFree
Software. CheckFree's Applied Operational Intelligence approach
helps clients drive profitability and performance through a
combination of innovative software, industry expertise and
collaborative partnership. This approach is built on CheckFree's
core competencies of reconciliation, exception management,
transaction process management, corporate actions processing,
payments processing, risk management and compliance. The Applied
Operational Intelligence approach is expressly designed to manage
risk and efficiency, while leveraging valuable 'operational
intelligence' to achieve measurable return on investment. CheckFree
TradeFlow allows organisations to efficiently manage, monitor and
measure the flow of securities and cash transactions across the
enterprise and through counterparties and settlement agents, while
minimising operational risk and increasing operational
efficiencies. For more information about CheckFree TradeFlow, visit
http://www.checkfreesoftware.com/. About Singapore Exchange Limited
(http://www.sgx.com/) Singapore Exchange Limited (SGX) is
Asia-Pacific's first demutualised and integrated securities and
derivatives exchange. SGX was inaugurated on 1 December 1999,
following the merger of two established and well-respected
financial institutions -- the Stock Exchange of Singapore (SES) and
the Singapore International Monetary Exchange (SIMEX). On 23
November 2000, SGX became the first exchange in Asia-Pacific to be
listed via a public offer and a private placement. Listed on its
own bourse, the SGX stock is a component of benchmark indices such
as the MSCI Singapore Free Index and the Straits Times Index. About
CheckFree (http://www.checkfreecorp.com/) Founded in 1981,
CheckFree Corporation (NASDAQ:CKFR) provides financial electronic
commerce services and products to organizations around the world.
CheckFree Electronic Commerce solutions enable thousands of
financial services providers and billers to offer their customers
the convenience of receiving and paying their household bills
online or in person through retail outlets. CheckFree Investment
Services provides a broad range of investment management solutions
and outsourced services to thousands of financial services
organizations, which manage about $1.4 trillion in assets.
CheckFree Software develops, markets and supports software
applications that are used by financial institutions to process
more than two-thirds of the 14 billion Automated Clearing House
transactions in the United States. The division also provides
operational risk management, financial messaging, corporate
actions, and regulatory compliance software to more than 1,500
organizations across the globe. Certain of the Company's statements
in this press release are not purely historical, and as such are
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. These include statements
regarding management's intentions, plans, beliefs, expectations or
projections of the future. Forward-looking statements involve risks
and uncertainties, including without limitation, the various risks
inherent in the Company's business, and other risks and
uncertainties detailed from time to time in the Company's periodic
reports filed with the Securities and Exchange Commission,
including the Company's Annual Report on Form 10-K for the year
ended June 30, 2006 (filed September 8, 2006). One or more of these
factors have affected, and could in the future affect the Company's
business and financial results in future periods, and could cause
actual results to differ materially from plans and projections.
There can be no assurance that the forward-looking statements made
in this press release will prove to be accurate, and issuance of
such forward-looking statements should not be regarded as a
representation by the Company, or any other person, that the
objectives and plans of the Company will be achieved. All
forward-looking statements made in this press release are based on
information presently available to management, and the Company
assumes no obligation to update any forward-looking statements.
DATASOURCE: CheckFree Corporation CONTACT: Media relations, Judy
DeRango Wicks, +1-678-375-1595, or , or Investor relations, Tina
Moore, +1-678-375-1278, or , both of CheckFree Corporation Web
site: http://www.checkfreecorp.com/ http://www.sgx.com/
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