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Quintillion integrates Trades workflow with Sophis VALUE

Release Date: 20 May 2009

Dublin, 20 May 2009 - Quintillion limited, an independently operated fund administration company, has released a new version of its Trades Workflow system, Q Acquire. Q Acquire has now been fully integrated with Sophis VALUE, a leading provider of cross-asset, front-to-back risk and portfolio management solutions. This is the latest in a series of successful integrations with leading portfolio / order management systems.

Quintillion’s trade workflow is a highly engineered process which allows for a more systematic solution to the entire trades process; automatically building any required security masters, including OTC derivative positions or other static data in our portfolio and accounting system, booking trade information and resolving trade exceptions in a highly efficient manner.

Quintillion’s integration with Sophis allows for automatic provision of a daily trade file containing details of the relevant trade as well as the economics of the OTC position from Sophis VALUE. As such, the OTC security will be automatically built within Quintillion’s accounting system before the trade is booked, thus eliminating the need for any manual intervention. This integration also allows for mapping of additional OTC trade economics / reference points such as REDID, Doc clause, attachment / detachment points, underlying reference entity ISIN’s etc from the clients front end system to Quintillions accounting system in a completely systematic manner. This cutting edge and unique technology, which uses advanced workflow systems, places Quintillion at the forefront of developing processes that facilitate complete integration between the Manager and administrator, allowing high volume and complex trading data to be seamlessly completed and reconciled in a more efficient manner.

“Providing this link between Sophis VALUE and Quintillion’s own systems will help organisations to reduce operational risk by replacing manual processes with a more robust systematic platform,” said Samer Ballouk, Global Head of Product Management and Business Development.

“The Quintillion technology platform, in terms of receiving trade data along with the various economics of complex OTC derivatives, significantly reduces errors related to the manual booking of any trades along with the setup of these complex securities within the accounting system,” said Neil Mackay, Head of Investment Operations at Quintillion.

Quintillion’s Q Acquire trades process is integrated with a range of distinct OTC instruments including Credit Default Swaps, Interest Rate Swaps, OTC Options, revolving and term loan bank debt.

This integration also allows for mapping of internal client Investment identifiers as the primary security identifier on any over the counter security. This facilitates greater compatibility in the reconciliation process both back to the Investment Manager and to the Prime Broker(s) in order to complete a daily triangular reconciliation. The use of a common identifier also facilitates granular profit and loss reconciliations, position reconciliations as well as greater transparency in the cash reconciliation process in terms of mapping high volume upfront / unwind / periodic OTC payments. It can also simplify incoming OTC price feeds from third party vendors, particularly where there are a significant number of open positions.

About Quintillion

Quintillion is an indigenous and independently operated fund administration company which was established in 2006. The majority ownership of the company is shared by the management and staff, with a 25% minority share owned by a US seed investor. Quintillion provides a complete suite of fund administration and back office support along with shareholder services to a wide variety of clients. Experienced accounting and investor services professionals, coupled with leading technologies which are deployed in an innovative manner, are at the core of its ability to deliver superior fund administration solutions to hedge funds and asset management firms. Our client base of hedge fund managers, institutions and corporations run a broad selection of investment strategies and fund structures that are serviced by client focused teams. Further information: www.quintillion.ie

About Sophis

Founded in 1985, Sophis is a leading provider of cross-asset trade and risk management solutions for capital markets, corporate and insurance companies. The company has a global presence with 11 offices around the world. Sophis serves over 5,000 users in 130 market-leading institutions, including investment banks, asset managers, hedge funds and insurance companies with its two solutions, RISQUE, dedicated to the sell-side, and VALUE, dedicated to the buy-side. In July 2007, the Private Equity fund Advent International acquired a majority stake in Sophis.

About Sophis VALUE

VALUE is a cross-asset portfolio and risk management solution dedicated to the buy-side made of four integrated modules: front office; risk management; middle/back office; and data management. It provides sell-side level financial and technological capabilities with the user-friendliness, connectivity and ease of implementation required by the buy-side. VALUE has been adopted by more than 80 institutions worldwide, from start-up hedge funds to global asset management companies.