CheckFree Announces Readiness for Mandatory Migration to Omgeo CTM
September 19 2007 - 9:00AM
PR Newswire (US)
CheckFree TradeFlow enables block-level buy-side institutions to
successfully migrate to central matching before 2008 migration
deadline ATLANTA and LONDON, Sept. 19 /PRNewswire-FirstCall/ --
CheckFree Corporation (NASDAQ:CKFR) announced today that its
CheckFree TradeFlow solution can enable block-level buy-side firms
to comply with the rapidly approaching Omgeo Central Trade Manager
(CTM) central matching deadline of April 2008. The mandatory
deadline was announced in May of 2007 and has resulted in an
urgency across the industry to plan ahead for this migration.
CheckFree TradeFlow(TM), CheckFree's post-trade transaction process
management solution, has an existing community of clients that
connect today to Omgeo's CTM via CheckFree TradeFlow. In 2002,
CheckFree was the first supplier to gain the Omgeo-certified STP
partner interface accreditation for Omgeo CTM. By selecting
CheckFree TradeFlow, clients have been able to reduce the business
continuity and implementation risks typically associated with such
key migrations. Firms that do not plan ahead for the Omgeo
migration deadline will be forced to process trades manually, less
cost-effectively, and with a higher level of business risk.
Organizations using CheckFree TradeFlow today are already
experiencing functional parity to previously implemented local
matching models. New users to the CheckFree TradeFlow system can
benefit from having all trades across multiple asset classes
consolidated into, and managed from, a single application for trade
management and exceptions processing. "CheckFree has worked with
Omgeo for many years and CheckFree TradeFlow already provides the
same functionality within both its CTM and local matching
solutions. In fact, CheckFree has already moved the sophisticated
settlement enrichment processing from our local match solution into
our Omgeo CTM workflow to support the migration," said Geoff
Harries, director of securities product management, CheckFree. "The
move to Omgeo CTM is mandatory by April 2008, and clients are
implementing CheckFree TradeFlow as a tactical solution in their
long-term strategic approach to post-trade processing. CheckFree
TradeFlow provides firms with a consolidated view and management of
all trades, regardless of instrument class or where they are
matched, centrally or locally." CheckFree TradeFlow is a
sophisticated multi-asset transaction process management solution
incorporating workflow, matching, exception management, messaging
and connectivity, all designed to reduce the risk and cost
associated with post-trade automation. CheckFree's approach to
packaging integration, workflow and exceptions management can
allows for rapid deployment to meet the migration deadline. About
CheckFree TradeFlow The CheckFree TradeFlow solution can allow
organizations to efficiently manage, monitor and measure the flow
of securities and cash transactions across the enterprise and
through counterparties and settlement agents, while minimizing
operational risk and increasing operational efficiencies. For more
information about CheckFree TradeFlow, visit
http://www.checkfree.com/. 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 financial services providers
to offer the convenience of online banking, and along with billers,
to offer the convenience of receiving and paying household bills
online, via phone or in person through retail outlets. CheckFree
Investment Services provides a broad range of investment management
solutions and outsourced services to hundreds of financial services
organizations, which manage about $1.8 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 nearly 14 billion Automated Clearing
House transactions in the United States. The division also provides
financial institutions and other organizations with payment
processing and consulting, reconciliation and exception management,
fraud and risk management, cash and logistics management, and
compliance software and services. 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, 2007 (filed August 24, 2007). 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 Investor relations Tina Moore,
+1-678-375-1278, , both of CheckFree Corporation Web site:
http://www.checkfreecorp.com/
Copyright
Checkfree Corp (MM) (NASDAQ:CKFR)
Historical Stock Chart
From Jul 2024 to Aug 2024
Checkfree Corp (MM) (NASDAQ:CKFR)
Historical Stock Chart
From Aug 2023 to Aug 2024