Mercator Selected by ITG Europe to Automate Electronic Trade Confirmation; Matching Solution Implemented within One Month for European Stockbroker.Business & High Tech Editors WILTON, Conn., and DUBLIN, Ireland--(BUSINESS WIRE)--Aug. 27, 2002 Mercator(R) Software, Inc. (Nasdaq: MCTR MCTR Missile Technology Control Regime mCTR Murine Calcitonin Receptor MCTR Medical Center for Translational Research (Osaka University Hospital, Japan) MCTR Mackinac Transportation Company ), today announced the successful deployment of its Mercator Global Securities Solution (GSS (storage) GSS - Group-Sweeping Scheduling. ) at ITG ITG In the Groove ITG Investment Technology Group ITG Information Technology Group ITG International Trumpet Guild ITG Instituut Voor Tropische Geneeskunde (Dutch: Institute of Tropical Medicine; Antwerp, Belgium) Europe (ITGE ITGE Instituto Tecnologico GeoMinero (Spanish) ). ITGE is using Mercator GSS to help automate its electronic trade confirmation (ETC ETC - ExTendible Compiler. Fortran-like, macro extendible. "ETC - An Extendible Macro-Based Compiler", B.N. Dickman, Proc SJCC 38 (1971). ) matching utility. A wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of New York-based Investment Technology Group, ITGE is an agency stockbroker that trades in European equities. The Mercator solution helps ITGE manage trading growth by providing the functionality to route ETC messages to ITGE's institutional client. Mercator does this by automatically matching block level and allocation trades, for which ITGE has a 0% tolerance. The project was implemented within one month. Since deploying Mercator GSS, ITGE has streamlined its trade confirmation process, significantly shortening trade confirmation turnaround times. Yvonne Lovern, Product Manager at ITGE, commented: "Mercator successfully achieved a very strict deadline, which was set by one of our clients. They hit the milestone dates for delivery and testing given in the project plan. Prior to Mercator, all matching was done manually. Now we have an STP STP or standard temperature and pressure, standard conditions for measurement of the properties of matter. The standard temperature is the freezing point of pure water, 0°C; or 273.15°K;. rate greater than ninety percent." Thracy Varvoglis, Senior Vice President of Mercator Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , said: "Mercator is delighted that its team delivered the project in such a short time period. This clearly demonstrates the benefits of Mercator's experience and product suite within financial services. We look forward to working closely with ITGE to continue to develop its international performance capabilities." About ITG Europe ITG Europe is a new generation agency stockbroker, which uses advanced technology to deliver enhanced trading performance to multinational institutional investors and broker dealers. ITG Europe was established in 1998 and operates the POSIT (Profiles for Open Systems Internetworking Technologies) A set of voluntary standards published by the National Institute of Standards and Technology (NIST) for network equipment purchased by the U.S. government. It is the successor to GOSIP. (R) crossing system for ten European countries, and offers full portfolio trading services throughout Europe. ITG Europe is a part of ITG, which is headquartered in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of with offices in Boston, Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. , Dublin, Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. , London, Melbourne, Sydney, Tel Aviv Tel Aviv (tĕl əvēv`), city (1994 pop. 355,200), W central Israel, on the Mediterranean Sea. Oficially named Tel Aviv–Jaffa, it is Israel's commercial, financial, communications, and cultural center and the core of its largest and Toronto. As a leading provider of technology-based equity-trading services and transaction research to institutional investors and brokers, ITG services help clients to access liquidity, execute trades more efficiently, and make better trading decisions. For additional information, visit www.itgeurope.com. About Mercator Mercator Software's intelligent business integration solutions unify any internal operations and connect them with partners and customers while leveraging current technology investments. More than 1,100 enterprise-level customers in financial services, healthcare, utilities, manufacturing, retail, and distribution, use Mercator software to maximize their performance. Additional information about Mercator (Nasdaq: MCTR) may be found at www.mercator.com. Mercator is a registered trademark of Mercator Software, Inc. Legal Notice Regarding Forward-Looking Statements Statements in this press release that are not purely historical are forward-looking statements, including statements regarding Mercator Software's beliefs, expectations, hopes or intentions regarding the future. Forward-looking statements in this release include, but are not limited to, statements regarding the growth of the enterprise application market, the demand for the company's application integration solutions and the speed of deployment of new products, including combined Mercator e-business integration broker products. It is important to note that actual outcomes and the company's actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties such as changes in demand for application integration or e-business integration software and the company's Mercator e-business integration broker suite of products in particular, the ability of the company to expand its international operations Internal Operations (I.O., IO or I/O) is a fictional American Intelligence Agency in Wildstorm comics. It was originally called International Operations. I.O. first appeared in WildC.A.T.S. volume 1 #1 (August, 1992) and was created by Brandon Choi and Jim Lee. , the ability of the company to manage expanded global operations, the ability of the company to continue to add resellers and other distribution channels, and the success of third parties in utilizing and marketing the company's products, the Company's ability to raise financing, or seasonality in operating results. Readers should also refer to the risk disclosures outlined in the company's reports filed with the Securities and Exchange Commission. All forward-looking statements and reasons why results might differ included in this release are made as of the date hereof, based on information available to the company as of the date hereof, and the company assumes no obligation to update any such forward-looking statement or reasons why results might differ. --30--bw/ny* csm
CONTACT: Mercator Software, Inc., Wilton
Jonathan Cohen, 203/563-1214
jcohen@mercator.com
or
Mercator, EMEA
Terri Barnes, + 44 (0) 20 7314 9774
tbarnes@mercator.com
KEYWORD: CONNECTICUT UNITED KINGDOM INTERNATIONAL EUROPE
INDUSTRY KEYWORD: BANKING E-COMMERCE INTERNET NETWORKING
SOFTWARE
SOURCE: Mercator Software, Inc.
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