Mondas PLC
16 March 2004
Mondas Plc
NEW ORDER FROM GNI ADDS CFD POSITION MANAGEMENT TO MONDAS' CORPORATE ACTIONS
SOLUTION
Banking & Securities software specialist, Mondas PLC, today announces that GNI
Limited, part of the Man Group plc, has placed a new order to extend its Radica
Corporate Actions Processing System ('CAPS') implementation to include Contracts
for Difference ('CFD') Position Management. This development contract is
significant for Mondas because it addresses the needs of the growing Derivatives
and CFD markets.
This order builds upon the existing relationship with GNI who went live
successfully in 2003 with Radica CAPS. The implementation will allow the
processing of both CFD client side and Equity hedge sides of the CFD business.
Initially, this new functionality will receive CFD positions from GNI's Rolfe &
Nolan system but, in due course, will be customisable to accept feeds from any
back office system.
Mike Nelson, Head of Business Analysis at GNI Limited comments: 'The processing
of Corporate Actions and Dividends on our client's CFD positions is an essential
part of our business. We have commissioned this new functionality from Mondas to
mitigate our risk in this important area and increases the level of service we
are able to offer our clients and internal account managers.'
Tim Simon, Chairman & CEO of Mondas adds: 'CFD Position Management has held
increasing importance in our plans and we are delighted to develop this new
module alongside GNI. Again, GNI has provided the initiative in an area where
many firms are finding the huge growth in CFD and Derivative trading a challenge
to manage.'
16 March 2004
Enquiries:
Mondas PLC Tel: 020 7392 1300
Tim Simon, Chairman and CEO
College Hill Tel: 020 7457 2020
Matthew Smallwood/Clare Warren
NOTES TO EDITORS
Radica CAPS is a proven solution that takes the corporate actions process from
the front office, through the middle to the back, all in a true STP environment,
offering benefits at each stage. Flexible, scalable, auditable, compliant,
electronic and paperless, the modular design covers a comprehensive range of
corporate actions processing requirements (including dividends and manufactured
overseas dividends) from electronic capture of event notifications, entitlement
calculation, through election decision capture to outcome update.
This information is provided by RNS
The company news service from the London Stock Exchange
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