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View Article  DSTi enhances derivatives functionality of HiPortfolio
Source: DST International, 04 June 2008

DST International (DSTi), a leading supplier of business solutions for the investment management industry, has expanded its use of FINCAD Analytics into its HiPortfolio system.

HiPortfolio integrates front, middle, and back office functions to provide the accounting and administration required in asset management. DSTi first implemented FINCAD Analytics into its HiRisk solution 10 years ago.

"FINCAD and DSTi have been partners for over 10 years," Bill Stewart, Vice-President of FINCAD Sales explained. "We're very pleased to have a company of DSTi's global reach and stature, expand the number of DSTi solutions that will leverage benefits of the FINCAD Alliance Program. We look forward to supporting the use of FINCAD analytics within each of HiRisk, HiPortfolio, HiNet and HiInvest systems."

For David Wright, Head of Development, HiPortfolio for DST International, the reasons for integrating FINCAD were simple. "With our extended derivatives capabilities we wanted to ...   more »

View Article  IntercontinentalExchange Announces Acquisition of Creditex Group Inc.

ATLANTA, June 3, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- IntercontinentalExchange (NYSE: ICE), a leading operator of global derivatives exchanges and over-the-counter (OTC) markets, today announced that it has entered into a definitive merger agreement to acquire Creditex Group Inc. (Creditex), a credit market leader and innovator in the execution and processing of credit default swaps (CDS) with markets spanning the U.S., Europe and Asia. Creditex is a leader in the most liquid segments of the CDS market including CDS indexes, single-names and standardized tranches.

The transaction consideration will total $625 million comprising approximately $565 million in ICE common stock and $60 million in cash, as well as a working capital adjustment to be finalized at closing. Approximately $50 million of the cash component is intended to provide some liquidity to employees that hold Creditex stock, and the remaining cash will be provided to unaccredited Creditex shareholders in lieu of ...   more »

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