Wednesday November 28, 2001
TruExchange and Rolfe & Nolan Announce Straight Through Processing Partnership
Lexington, Mass. and Chicago, Ill. November 28, 2001 -- TruExchange, Inc., a leading vendor of trading and matching engines for electronic exchanges and derivatives markets and Rolfe & Nolan Systems (R&N), the world's leading supplier of derivatives technology solutions, today announced a U.S. partnership that will enable the first Straight Through Processing (STP) solution for the derivatives industry. The agreement will provide advanced, fully integrated solutions for front-end order capture, exchange routing/access, trade matching, execution, back-office clearing, and settlement.
This agreement will allow R&N and TruExchange to cross-market each other's products and will include joint marketing campaigns to promote their integrated STP product suite to the industry. The two companies are currently integrating their product lines, including TruMarket (the TruExchange trading engine) running with live market data in a web-accessible ASP site managed by R&N.
TruMarket provides users with advanced functionality not currently available in existing electronic trading systems. These functions include the creation of new instruments on the fly and the execution of complex implied spreads with no legging risk. The combined solution assures fast, accurate order entry, execution and settlement and will be offered on ASP and license models including services for connectivity and back-office integration.
According to George McQuilken, Chief Executive Officer of TruExchange, "Together, TruExchange and Rolfe and Nolan offer the most complete, cost-effective, and flexible solution for implementing true STP within the derivatives industry. Our combined technology solutions enable the completion of the transaction process, from trading decision through best market match and exchange clearing; and completion of the settlement process, from exchange member clearing to ultimate settlement in the end customer's brokerage account - all seamlessly with no interruption and no delay."
According to Bob Sylverne, Chief Executive Officer of R&N's North America operations, "The integration of TruExchange into Rolfe and Nolan's derivatives technology solutions, along with the combined expertise of the two companies in dealing with electronic trading and clearing and settlement processes, allows us to extend a powerful and comprehensive STP solution to the industry. We believe that TruExchange's integration team and Rolfe and Nolan's consulting resources creates an unrivalled body of expertise in an industry where exchange and FCM requirements are becoming increasingly complex."
With the addition of TruExchange's powerful, flexible internal order matching capability, R&N's fully out-sourced STP applications will include:
All of R&N's and TruExchange's products are multi-lingual, multi-currency and designed to fully accommodate any firm's branding and corporate image requirements.
About Rolfe & Nolan
Rolfe & Nolan, whose securities are traded on the London Stock Exchange, is based in London and has offices in Chicago, New York, Singapore, Sydney, Milan and Frankfurt. The Company develops, markets and hosts advanced software applications for international banks, brokerage firms, and regulated exchange members active in trade capture/routing and clearing/processing of worldwide futures & options transactions. R&N currently supports over 300 clients located in 23 countries around the world. For more information visit the Rolfe & Nolan web site at www.rolfeandnolan.com.
TruExchange and TruMarket are trademarks of TruExchange, Inc.
release contains certain forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended, which are intended
to be covered by the safe harbors created thereby. Investors are cautioned
that all forward-looking statements involve risks and uncertainty, including
without limitation, the ability of the Company to market and develop its
products. Although the Company believes that the assumptions underlying
the forward-looking statements contained herein are reasonable, any of
the assumptions could be inaccurate, and therefore, there can be no assurance
that the forward-looking statements included in this press release will
prove to be accurate. In light of the significant uncertainties inherent
in the forward-looking statements included herein, the inclusion of such
information should not be regarded as a representation by the Company
or any other person that the objectives and plans of the Company will
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