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Milano, May 6th, 2005 – Banca Akros (Banca Popolare di Milano Group) is offering, staring from May 1st, the option to access directly and automatically the major OTC (Over the Counter) bond markets. The system, first in Italy, has been developed in partnership with SoftSolutions! and is targeted to institutional customers and italian bank branches. This new service, based on the proprietary software “OTC-Go!”, automates the complete customer order processing (from initial validation to execution ticket), and this for orders received on OTC eurobonds, government bonds, financial and non financial obbligations, eliminating non electronic messages. This new intermediation tecnique, in addition to increase market transparency, execution
speed, execution certainty and best pricing, reduces, as estimated by Banca Akros, structural costs by at least 30% when compared to traditional execution methods. On the target market for OTCGo! more that 10 billion euro’s are daily exchanged.

Tullio Grilli, Banca Akros head of project, says “The OTC-Go! solution enables us to reduce both organization and transactional costs, and to be able to serve our customers the best available prices on the reference markets; this has the side effect of raising transparency and efficiency of our trades”.

“The Banca Akros project”- points out Roberto Cocchi, president of SoftSolutions! – “albeit complex due to the integration of Order Routing and a Back Office systems, demonstrated the flexibility of the XTrade!Square platform, which permitted to iron out all issues that emerged during the project development.”

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From “Milano Finanza” News, ITA May 17th 2005

SoftSolutions! apre l’accesso agli Otc per Banca Akros.
Banca Akros (Gruppo Bipiemme) offre ora la possibilità di accedere direttamente e in modo totalmente automatico ai principali mercati elettronici obbligazionari Otc (over the counter).
Il sistema, primo in Italia, è stato realizzato in partnership con SoftSolutions! ed è destinato ai clienti istituzionali e alle filiali delle banche italiane.
Il nuovo servizio, basato sui sofware propietario Otc-Go!, permette di automatizzare tutto il processo degli ordini ricevuti dai clienti sui mercati obligazionari Otc di eurobbligazioni, titoli di stato, obbligazioni domestiche bancarie e societarie, eliminando tutte le comunicazioni non elettroniche.
La nuova modalità di intermediazione, oltre ad aumentare la trasparenza del mercato, la sicurezza di esecuzione e a garantire il best pricing, permette, secondo stime di Banca Akros, una riduzione dei tempi di esecuzione e un risparmio medio dei costi di almeno il 30% rispetto all’operatività tradizionale.