BISYS(R) Alternative Investment Services and T-Zero Create Strategic Alliance to Provide Leading Credit Derivative Affirmation S
December 06 2006 - 3:50PM
Business Wire
BISYS Alternative Investment Services, a leading global provider of
administrative, accounting and tax services for the hedge fund and
private equity industry, today announced a new strategic
partnership with T-Zero, a credit derivative market leader in trade
affirmation. T-Zero provides a leading post-trade affirmation and
connectivity platform for the Credit Default Swap (CDS) market. The
BISYS Alternative Investment Services partnership with T-Zero
facilitates integrated processing with a system that supports the
drive for automation in the fast-growing derivatives market. T-Zero
provides an easily adaptable post-trade affirmation and messaging
service that confirms trades prior to processing in order to ensure
accurate trading details. T-Zero provides a core level of
connectivity between clients, brokers and the BISYS platform that
enables straight-through-processing (STP) for a key
over-the-counter (OTC) investment product. �In partnering with
T-Zero, BISYS again demonstrates its commitment to clients� trading
complex strategies and instruments,� said Mary Lumetta, vice
president of BISYS Hedge Fund Services. �We have expanded our STP
model to further automate the processing of OTC products. T-Zero
provides us with a consistent trade source that allows us to
quickly set up and automate the processing of trade files. The
integration of T-Zero into our product suite provides better
operating controls and proactively addresses issues before they
become problems for both us and our clients.� �T-Zero is very
excited to be partnering with BISYS in this way,� said Mark
Beeston, president of T-Zero. �As a major player in the derivative
fund administration space, BISYS is clearly committed to improving
the quality of operational processing for their clients, and we are
pleased that the T-Zero affirmation process is a key part of that.�
About T-Zero T-Zero is the credit derivative market leader in trade
affirmation and agnostic connectivity. The T-Zero platform ensures
100% accuracy of trade capture on trade date, greatly reducing
operational and settlement risks and paving the way for sustained
future growth in the industry. T-Zero�s �agnostic connectivity�
enables electronic delivery of trade data to virtually any
downstream system and market service provider including DTCC
Deriv/SERV, GlobeOp, Calypso and Thunderhead, either through a
stand alone system or through your Bloomberg PROFESSIONAL terminal.
T-Zero also provides straight-through-processing services for the
market leading e-trading platforms of Creditex and BGC partners. A
truly open communications platform, T-Zero connects market
participants including major credit derivatives dealers, hedge
funds, asset managers, prime brokers, fund administrators and
documentation execution providers. Visit www.tzero.com for more
information. About BISYS Alternative Investment Services BISYS
Alternative Investment Services is a leading global provider of
administrative, accounting, advisory, and tax services for the
alternative investment industry with over $225 billion in assets
under administration. BISYS provides innovative and tailored
solutions to approximately 500 clients and over 1,500 funds,
including hedge funds, private equity funds, fund-of-funds, and
other alternative investment products. BISYS Alternative Investment
Services is a division of The BISYS Group, Inc. About BISYS The
BISYS Group, Inc. (NYSE: BSG) provides outsourcing solutions that
enable investment firms and insurance companies to more efficiently
serve their customers, grow their businesses, and respond to
evolving regulatory requirements. Its Investment Services group
provides administration and distribution services for mutual funds,
hedge funds, private equity funds, retirement plans, separately
managed accounts, and other investment products. Through its
Insurance Services group, BISYS is the nation�s largest independent
wholesale distributor of life insurance and a leading independent
wholesale distributor of commercial property/casualty insurance,
long-term care, disability, and annuity products. Additional
information is available at www.bisys.com. Except for the
historical information contained herein, the matters discussed in
the press release are forward-looking statements within the meaning
of the safe-harbor provisions of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements are based on
management's current reasonable expectations and are subject to
certain assumptions, risks, uncertainties and changes in
circumstances due to future events as well as changes in economic,
competitive, regulatory and/or technological factors affecting
BISYS� business, including, without limitation, the ongoing
government investigations and litigations involving the company.
More detailed information about risk factors that could cause
actual results to differ materially are noted in BISYS� periodic
filings with the Securities and Exchange Commission. These
documents can be accessed on BISYS� website at www.bisys.com under
the �Investor Relations� tab. Forward-looking statements are only
predictions, not guarantees of performance, and speak only as of
the date they are made. BISYS disclaims any obligation to update or
amend these statements in light of new information, future events
or otherwise.
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