Currenex Partners With Trema to Provide Straight-Through Processing for Currency Trading

Apr 30, 2001, 01:00 ET from Currenex, Inc.

    LONDON, April 30 /PRNewswire/ -- Currenex(TM), Inc. and Trema today
 announced that Currenex will connect its FXtrades service with the Trema
 Transaction Hub Service to provide straight-through processing to their joint
 customers. Trema is a premier provider of integrated treasury, risk, cash and
 asset management systems and management consulting. Trema Transaction Hub
 Service links Trema's treasury, risk and asset management system, Finance
 KIT -- with web-based FX dealing services.
     Currenex provides the first operational online currency exchange open to
 institutional buyers and sellers worldwide.  Its Internet service, FXtrades,
 is a real-time foreign currency exchange that delivers certainty, efficiency
 and reliability in foreign exchange trading and processing to its members
 worldwide.  Currenex members include MasterCard International, Royal
 Dutch/Shell Group and Intel Corporation as well as 35 global, market-making
 banks.
     "Currenex is committed to provide our members with seamless integration
 between FXtrades service and premier treasury solutions such as Trema." said
 Jim Kleckner, vice president products and development at Currenex.  "Our
 FXtrades service is an open and flexible platform enabling a standards-based,
 rapid approach to connect to treasury solutions as well as to bank trading
 systems.  Straight-through processing gives banks, treasurers and investment
 fund managers improved efficiency in their currency trading while ensuring
 accuracy and audit-ability."
     The integrated solution will allow members of Currenex and customers of
 Trema to have their trading positions in foreign exchange spots, swaps, and
 forwards updated automatically on a real-time basis in Finance KIT, via the
 Trema Transaction Hub Service.  Once a deal is executed on the Currenex
 service the member's position will be automatically directed via Trema
 Transaction Hub Service into Finance KIT. This facility is designed to
 minimize operational risk by reducing the need for multiple systems, and will
 allow customers to focus greater resources on value-added trading strategies.
     Thomas Bergqvist, Managing Director at Trema Service Provider said, "Trema
 Transaction Hub Service has been in live production since October 2000.
 Trema's multi-bank, multi-customer service is rapidly expanding in the number
 of users and participating banks.  We are excited to work together with
 Currenex's significant membership because this cooperation is in line with our
 strategy to provide extended straight-through processing (eSTP) solutions to
 our customers.  This strategy delivers clear benefits to our customers by
 minimizing operational risk and facilitating global position keeping in
 real-time."
 
     Notes
     About Currenex
     Currenex (http://www.currenex.com) provides the first operational online
 global currency exchange service open to all institutional buyers and sellers
 worldwide.  Currenex's Internet-based service, FXtrades, links banks,
 corporate treasury departments, institutional funds/asset managers, government
 agencies, international organizations and central banks through a real-time FX
 marketplace providing a total trading solution from initiation and execution
 to settlement and reporting.  Currenex delivers certainty, efficiency and
 reliability in FX processing and has major multinational customers including
 MasterCard International, Royal Dutch/Shell Group and Intel Corporation as
 well as 35 global, market-making banks.  Founded in the second half of 1999,
 the company has offices in California, Chicago, New York, London and
 Singapore.
     Currenex and the Currenex logo are trademarks of Currenex, Inc.  All other
 trademarks are the property of their respective owners.
 
     About Trema
     Trema Group is a premier provider of strategic technology solutions and
 management consulting services to the financial industry.  Trema's clients
 include key players in the financial markets, including banks, corporate
 treasuries, investment management firms and central banks in Europe, the
 Middle East, Africa, Asia and North America.  Trema's clients include ABB,
 AEGON, Aventis, BAe Systems, BMW Group, Ericsson, European Central Bank, ING
 Investment Management, Johnson Controls, Pharmacia, SEB, Unilever and Volvo.
 Founded in 1992, Trema has an international staff of over 300 and has offices
 in Abu Dhabi, Boston, Frankfurt, Helsinki, Johannesburg, London, Prague,
 Singapore, Sophia Antipolis, and Stockholm.
     Trema's flagship product, Finance KIT, is a straight-through-processing
 treasury, risk and asset management system.  To expand the capability of
 Finance KIT to remote and mobile users, Trema offers Finance eKIT, a suite of
 Web-enabled modules that provides enhanced functionality for organizations
 using Finance KIT, and Finance mKIT to provide wireless access to key Finance
 KIT functionality through a mobile phone.
     Trema Transaction Hub Service is a new centralized solution that links
 Trema Finance KIT with web-based FX dealing services provided by banks.  Trema
 Transaction Hub Service operates by providing a secure connection between the
 bank's server and the corporate treasury's Finance KIT.  Users deal
 electronically with their bank, but rather than having to re-enter the deal
 information into Finance KIT, this part of the process is done for them
 through Trema Transaction Hub Service.  The relevant information is
 automatically transferred from the bank's system to the Trema Transaction Hub
 Service, which then distributes it to the customer's Finance KIT.  The
 customer only needs to integrate once to the Trema Transaction Hub Service in
 order to access multiple web-based FX dealing services.
     For more information on Trema, please visit http://www.trema.com
 
 

SOURCE Currenex, Inc.
    LONDON, April 30 /PRNewswire/ -- Currenex(TM), Inc. and Trema today
 announced that Currenex will connect its FXtrades service with the Trema
 Transaction Hub Service to provide straight-through processing to their joint
 customers. Trema is a premier provider of integrated treasury, risk, cash and
 asset management systems and management consulting. Trema Transaction Hub
 Service links Trema's treasury, risk and asset management system, Finance
 KIT -- with web-based FX dealing services.
     Currenex provides the first operational online currency exchange open to
 institutional buyers and sellers worldwide.  Its Internet service, FXtrades,
 is a real-time foreign currency exchange that delivers certainty, efficiency
 and reliability in foreign exchange trading and processing to its members
 worldwide.  Currenex members include MasterCard International, Royal
 Dutch/Shell Group and Intel Corporation as well as 35 global, market-making
 banks.
     "Currenex is committed to provide our members with seamless integration
 between FXtrades service and premier treasury solutions such as Trema." said
 Jim Kleckner, vice president products and development at Currenex.  "Our
 FXtrades service is an open and flexible platform enabling a standards-based,
 rapid approach to connect to treasury solutions as well as to bank trading
 systems.  Straight-through processing gives banks, treasurers and investment
 fund managers improved efficiency in their currency trading while ensuring
 accuracy and audit-ability."
     The integrated solution will allow members of Currenex and customers of
 Trema to have their trading positions in foreign exchange spots, swaps, and
 forwards updated automatically on a real-time basis in Finance KIT, via the
 Trema Transaction Hub Service.  Once a deal is executed on the Currenex
 service the member's position will be automatically directed via Trema
 Transaction Hub Service into Finance KIT. This facility is designed to
 minimize operational risk by reducing the need for multiple systems, and will
 allow customers to focus greater resources on value-added trading strategies.
     Thomas Bergqvist, Managing Director at Trema Service Provider said, "Trema
 Transaction Hub Service has been in live production since October 2000.
 Trema's multi-bank, multi-customer service is rapidly expanding in the number
 of users and participating banks.  We are excited to work together with
 Currenex's significant membership because this cooperation is in line with our
 strategy to provide extended straight-through processing (eSTP) solutions to
 our customers.  This strategy delivers clear benefits to our customers by
 minimizing operational risk and facilitating global position keeping in
 real-time."
 
     Notes
     About Currenex
     Currenex (http://www.currenex.com) provides the first operational online
 global currency exchange service open to all institutional buyers and sellers
 worldwide.  Currenex's Internet-based service, FXtrades, links banks,
 corporate treasury departments, institutional funds/asset managers, government
 agencies, international organizations and central banks through a real-time FX
 marketplace providing a total trading solution from initiation and execution
 to settlement and reporting.  Currenex delivers certainty, efficiency and
 reliability in FX processing and has major multinational customers including
 MasterCard International, Royal Dutch/Shell Group and Intel Corporation as
 well as 35 global, market-making banks.  Founded in the second half of 1999,
 the company has offices in California, Chicago, New York, London and
 Singapore.
     Currenex and the Currenex logo are trademarks of Currenex, Inc.  All other
 trademarks are the property of their respective owners.
 
     About Trema
     Trema Group is a premier provider of strategic technology solutions and
 management consulting services to the financial industry.  Trema's clients
 include key players in the financial markets, including banks, corporate
 treasuries, investment management firms and central banks in Europe, the
 Middle East, Africa, Asia and North America.  Trema's clients include ABB,
 AEGON, Aventis, BAe Systems, BMW Group, Ericsson, European Central Bank, ING
 Investment Management, Johnson Controls, Pharmacia, SEB, Unilever and Volvo.
 Founded in 1992, Trema has an international staff of over 300 and has offices
 in Abu Dhabi, Boston, Frankfurt, Helsinki, Johannesburg, London, Prague,
 Singapore, Sophia Antipolis, and Stockholm.
     Trema's flagship product, Finance KIT, is a straight-through-processing
 treasury, risk and asset management system.  To expand the capability of
 Finance KIT to remote and mobile users, Trema offers Finance eKIT, a suite of
 Web-enabled modules that provides enhanced functionality for organizations
 using Finance KIT, and Finance mKIT to provide wireless access to key Finance
 KIT functionality through a mobile phone.
     Trema Transaction Hub Service is a new centralized solution that links
 Trema Finance KIT with web-based FX dealing services provided by banks.  Trema
 Transaction Hub Service operates by providing a secure connection between the
 bank's server and the corporate treasury's Finance KIT.  Users deal
 electronically with their bank, but rather than having to re-enter the deal
 information into Finance KIT, this part of the process is done for them
 through Trema Transaction Hub Service.  The relevant information is
 automatically transferred from the bank's system to the Trema Transaction Hub
 Service, which then distributes it to the customer's Finance KIT.  The
 customer only needs to integrate once to the Trema Transaction Hub Service in
 order to access multiple web-based FX dealing services.
     For more information on Trema, please visit http://www.trema.com
 
 SOURCE  Currenex, Inc.