Tags: Bank of London, EGP/FT Member Concentrator Services

Bank of London and Middle East selects EGP/FT Member Concentrator Services

● Financial Tradeware to manage registration process enabling new bank to gain cost effective SWIFT connectivity

London/New York – 1st October, 2007 - Financial Tradeware (www.f-tradeware.com), provider of Portfolio and Fund Management Straight Through Processing (STP) solutions for investment managers, fund managers and hedge funds, today announced that in conjunction with Européenne de Gestion Privée SA (EGP) it has been selected by Bank of London and Middle East (BLME) to provide Member Concentrator services, enabling the bank to connect to and send messages over the proven SWIFT network.

The EGP/FT Member Concentrator was selected after an evaluation of the available options in the marketplace. “We wanted the ability to connect to SWIFT to ensure that we could minimise costs and maintain high levels of STP from the outset,” said Simon Ratcliff, Head of Market Operations of BLME, “We look forward to working with the team at Financial Tradeware.”

Européenne de Gestion Privée SA (EGP) in collaboration with Financial Tradeware (FT) are currently registered by SWIFT as one of the few worldwide organizations offering the Member Concentrator service. EGP/FT will provide the complete service to apply and register for SWIFT Membership on behalf of BLME.

Financial institutions appreciate the benefits and operational efficiencies gained by communicating over a managed SWIFTNet service. This is especially advantageous where message volumes are low and the ongoing costs of supporting a dedicated infrastructure and resources may be uneconomical.

“We are pleased to have been selected by a new bank, as it recognises both our expertise and the validity of the business model behind the Member Concentrator service. It simplifies tasks, gives operational efficiency and controls the operating costs for new and existing SWIFT eligible institutions such as small-to-medium sized banks, investment and asset management institutions,” said Graham Bright, Managing Director of Financial Tradeware.

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About Financial Tradeware

Financial Tradeware provides integrated portfolio management and messaging solutions and cost-effective SWIFT connectivity, and is registered as the EGP/FT Member Concentrator service provider. Financial Tradeware has developed a suite of modules covering front-office order entry, middle and back office administration, accounting, compliance, as well as clearing and settlement with counterparties. The solutions can be used individually to achieve Straight Through Processing (STP), or integrated to provide automation and management for the entire trade life cycle for small to medium sized investment management firms, fund managers and hedge funds. Financial Tradeware, part of the European investment management group, Dharma Holdings, is headquartered in London and has offices in Rome, Brussels and Geneva. Clients include Caxton, MFEX, Manifest, AIDT, Vector Aerospace, EIM, Karla Derivative Strategies and GlobeTax. For more information see: www.f-tradeware.com. For more information see: www.f-tradeware.com

About Bank of London and The Middle East
Bank of London and The Middle East (BLME) is a standalone, wholesale, Sharia’a compliant bank based in the City of London. The bank, provides a range of high quality Sharia’a compliant banking services and advice to businesses both in Europe and the MENA region who wish to access innovative Islamic financial products. BLME focuses on four main business lines:
* Islamic Treasury and Financial Institutions - a complete package of both products and services to help manage liquidity;
* Corporate Banking - addressing all the financing needs of corporates, projects and institutions;
* Private Banking and Investment Management - assisting high net-worth individuals with their banking and investment management requirements; and
* Investment Banking - accessing equity capital markets for customers and providing corporate finance advisory services.

Press Contact: Jenny Swift, Rivercalm. Tel: 0044 207 665 1636 Email: swift {at} rivercalm(.)com