Santiago Stock Exchange (SSE) Becomes Clarity Systems Business Partner

Leading South American stock exchange to promote Clarity FSR(TM) to member firms

Jan 27, 2010, 14:02 ET from Clarity Systems Limited

SANTIAGO, Chile, Jan. 27 /PRNewswire/ - Clarity Systems, a leader in corporate performance management (CPM) and financial governance solutions, today announced that it had signed a business partnership with the Santiago Stock Exchange (Bolsa de Comercio de Santiago), the most comprehensive stock exchange in the Chilean financial market.

The partnership sees the Santiago Stock Exchange and Clarity working together to market and promote Clarity FSR within the Chilean market to address the external reporting needs of publicly listed companies. Clarity FSR is the only enterprise software that automates the external reporting process for publicly-listed firms, stock exchanges and other organizations which need to assemble, create and file statutory and regulatory reports as part of their external reporting process. With Clarity FSR Chilean companies now have an alternative to existing and very limited XBRL bolt-on solutions. Clarity FSR automates the entire external reporting process with its unique and integrated Tag Once(TM) XBRL functionality; something existing bolt-on XBRL solutions just cannot do. The SSE will also be using Clarity FSR internally to produce regulatory reports.

"At the Santiago Stock Exchange, we pride ourselves on being technological innovators, which has seen us win many honours, including the 'Infrastructure and Technology' award from the Pontificia Universidad Catolica de Chile at CETIUC 2009," said Gonzalo Ugarte, COO, Santiago Stock Exchange. "In that spirit, we are pleased to deploy and to introduce to our community the increased efficiencies and risk reductions delivered by Clarity FSR. We appreciate the solution's ability to create reports that are linked to financial source data, enabling auto-generation of the latest version of various monthly reports, quarterly analysis reports and financial figures, annual reports and other documents. As well, being able to output these reports in multiple formats including XBRL, PDF, Microsoft Word and Adobe InDesign, is in keeping with our commitment to be a leader in financial services."

"This partnership puts the SSE in the vanguard of the world's regional exchanges in its quest to provide efficiencies and transparency to its customers," said Frank Pizzolato, CEO, Clarity Systems. "We look forward to working with the Exchange to expand its leadership position, while bringing the advantages of the world's leading financial governance solution - Clarity FSR - to Chile's many publicly-listed companies."

About Santiago Stock Exchange (SSE - Bolsa de Comercio de Santiago)

Santiago Stock Exchange (SSE) is a public corporation founded in 1893. Its equity is comprised of 48 shares, 32 of which are held by brokers. It is a member of the Federacion Iberoamericana de Valores (FIABV) since 1973, and member of the International Federation of Stock Exchanges (FIBV), since 1991. Due to its role of intermediary in the stock market and its capacity of public corporation, the institution is supervised by the Superintendence of Securities and Insurance. For more information, please visit

About Clarity Systems

Clarity Systems delivers software solutions to the Office of Finance. The company's software helps organisations around the world improve their budgeting, planning, consolidations, scorecarding and management reporting processes, and also automates the external reporting processes required to produce regulatory and statutory reports. Clarity's unified applications help CFOs reduce risk while simultaneously improving operational efficiency. For more information, please visit Clarity's website at

SOURCE Clarity Systems Limited