SOURCE: MetraTech

MetraTech

February 01, 2011 13:18 ET

CETIP Selects Billing System From MetraTech

WALTHAM, MA--(Marketwire - February 1, 2011) - MetraTech Corp, the innovative charging, billing, settlement and customer care software provider, announced today that it has been selected by CETIP - OTC Clearing House, Latin America's largest central depository for over-the-counter (OTC) derivatives and private debentures securities in Brazil, to provide billing and billing-related services across its product portfolio. Created by financial institutions and the Central Bank of Brazil in 1984, CETIP - OTC Clearing House ensures support to the entire operational cycle of the financial markets by integrating custody, electronic trading, trade registration and financial settlement for transactions involving fixed income securities and OTC derivatives. CETIP currently has operations in Rio de Janeiro and Sao Paulo.

While striving to keep pace with the velocity of electronic trading and the need to support new and innovative financial product offerings in increasingly competitive global markets, clearing and settlement organizations are rapidly outgrowing their current, often bespoke, billing systems. They are seeking systems that will help them accurately and transparently bill for their current and future services. MetraTech's MetraNet will provide CETIP with a billing system that enables the organization to keep pace with the demands of a rapidly evolving market, including the ability to support both product and contract innovation from a growing customer base in expanding geographies.

Particularly important is the ability to handle any monetization aspects of CETIP's service contracts and meet the unique requirements of individual customers, but in a systemic manner -- improving speed, traceability and accuracy with less maintenance. Furthermore, the new system will give CETIP the ability to scale its business via new product offerings, channel support and geographic expansion.

Commented Francisco Carlos Gomes, chief financial officer, CETIP, "We believe that the right billing system is the flexible backbone on which we will continue to build a successful future; one that will enable us to support increasingly complex and varied products and services. In MetraTech, we have found a partner who will meet our needs both immediately and into the future."

"In line with our strategy to assist the world's leading financial services organizations with the modernization of their billing services, we are delighted that MetraNet has been chosen to support one of the largest infrastructure providers in Latin America," concluded Scott Swartz, chief executive officer, MetraTech Corp. "MetraNet will enable CETIP to face and meet the demands of a rapidly evolving market with confidence."

About CETIP
Created by financial institutions in 1986, CETIP S.A. - Balcão Organizado de Ativos e Derivativos is a company that manages organized over-the-counter markets or trading and registration environments for securities, public and private fixed-income securities and OTC derivatives. It is a clearinghouse that is systemically important as per the Brazilian Payments System legislation (SPB - Law no. 10,214) which holds in book-entry custody assets and contracts, registered operations carried out on the OTC market, processes and settles and offers the market an electronic platform to carry out several types of online transactions such as auctions and trading of public and private instruments, as well as fixed-income securities.

Today CETIP is a publicly-traded company with shares traded on the BM&FBovespa's Novo Mercado. It is the largest depositary of private fixed-income securities in Latin America and the largest clearinghouse of private assets in the Brazilian financial market. CETIP's operations provide the necessary support to the entire cycle of transactions with fixed-income securities, securities and OTC derivatives.

About MetraTech
MetraTech Corp. offers a new approach to charging, billing, settlement and customer care enabling organizations to embrace change without compromise. MetraNet, our flagship product, is unique in its ability to automate business processes and business models that address rapidly changing, complex or radical business strategies across any industry for an unlimited number of services. MetraNet is deployed globally by a diverse customer base, including industry leaders such as City of Chicago-O'Hare, Depository Trust and Clearing Corporation, InterCall, Microsoft Online, PGi (Premiere Global Services) and OnStream(National Grid). Our customers use MetraNet to build innovative and successful business models, securely collect revenue, and manage their entire customer lifecycle in some 12 languages, 28 currencies and 90 countries. MetraTech offers a variety of delivery options ranging from licensing to outsourcing. Headquartered in Boston, MetraTech has offices in San Francisco, Munich, Paris, Singapore, Rio de Janeiro and London. MetraTech is a venture-backed, privately held company whose investors include Accel Partners, Bessemer Venture Partners, Meritech Capital and Vesbridge Partners. For more information, please visit www.metratech.com.

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Contact Information

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    North America:
    Barbara Reichert
    Reichert Communications, LLC
    Telephone: 415.248.0230 ext 7012
    Email address: barbara@reichertcom.com

    MetraTech:
    Keith Brody
    Head of Communications
    Telephone: 44(0)7790 245779
    Email address: kbrody@metratech.com