OPTES – “Operations on Behalf of the Italian Treasury” available on SoftSolutions! XTAuctions! and XTOptes! Platform.
Bergamo, Italy, April 13th , 2007
SoftSolutions!, leader in integrated electronic markets connectivity software, today announced the immediate availability of XTOptes! after successful tests with the Bank of Italy.
OPTES are overnight transactions involving non collateralized deposits, conducted through bilateral trades undertaken directly between the Italian Ministry of the Economy and Finance (MEF) and counterparties. The main purpose of these operations is to absorb funds on the money market.
SoftSolutions! new XTOptes! platform has already been adopted by nearly 50% of Tier One participants. The growing success of the XTAuctions! and XTOptes! platforms prove that both solutions are the first-choice in the Italian Auction Specialist arena.
XTOptes! presents an effective real-time interface and efficient price building process mechanisms. The basic features of the platform include security configuration parameters to manage quantity controls, automatic transaction costs management and OPTES Keys management. The platform is fully integrated with RAF service (RNI Access Facility), a connectivity service that allows participants to connect OPTES Italian auctions through fast and high quality connection providers.
“The effort we have put into XTOptes! really shows. The platform has been tested and approved by the Bank of Italy and thanks to the opportunity we had to work closely with OPTES end users, their exact needs have been met.” said Roberto Abati, XTOptes! Product Manager. “Our customers can be assured that the day OPTES goes live they will be ready.”
Direct RNI access is an alternative to the previous host-based connection to the Bank of Italy.
Infrastructure connectivity is offered by a well known leading connectivity provider and thanks to this service, XTOptes! customers have the benefit of a fast and reliable connection.