News & Events
Integrated Trade Processing Partners with Document Sciences
4/19/2007, 9:00AM ET
Integrated solution streamlines OTC derivatives processing and automates trade documentation
CARLSBAD, CA (April 19, 2007) -- Document Sciences Corporation (NASDAQ: DOCX), a global market leader in providing customer communications management solutions, today announced a partnership agreement with Integrated Trade Processing Corporation (ITP), a leading provider of integrated, customizable trading technology software and services for banks, investment managers, and securities firms. The agreement enables both organizations to expand their presence throughout the U.S. financial services market by providing an integrated solution to reduce risks and transaction processing costs, ensure compliant content within confirmation documents, and automate manual processes related to Over-The-Counter (OTC) derivatives trade processing.
This joint solution will combine Document Sciences' award-winning xPression® customer communications suite with ITP's middle-office shared services Real-Time Post-Trade platform. xPression will be used within ITP's OTC Derivative Service to automatically generate ISDA Master Agreements and other necessary regulatory compliant confirmation documents used throughout the confirmation process in real-time.
Built on an open, standards-based J2EE architecture, xPression's scalable and highly flexible feature set allows for more streamlined, integrated workflows with internal groups and counterparties to help speed the production of ISDA Master Agreements.
ITP's Real-Time Post-Trade platform offers customizable services that support securities trading in equities, fixed income, derivatives, mutual funds, and hedge funds across the entire trade lifecycle, from order capture to settlement confirmation. The platform allows banks, brokers, and asset managers to configure custom designed transaction processing solutions that result in lower overall costs, straight through processing, and improved client facing services.
"Document Sciences' open, xPression architecture enables it to be tightly connected with ITP's Real-Time Post-Trade platform," says Gary Brackenridge, President and CEO of ITP. "Together, we offer the financial services industry an end-to-end, truly integrated solution with real-time capabilities that will help drive down risk, reduce errors, and maximize control throughout the entire OTC derivatives trade lifecycle."
"We're excited about the opportunities that this new partnership will bring to both companies," states Jack McGannon, President and CEO of Document Sciences. "ITP offers extensive expertise in supporting the post-trade process, which complements our technology's capabilities in automating the production of complex ISDA Master Agreements and ensuring that derivative confirmation documents comply with industry regulations. Our joint solution will significantly lower costs and improve a financial firm's ability to quickly respond to market demands."
About Integrated Trade Processing
Integrated Trade Processing Corp. (ITP), founded in 1999, is a leading provider of customizable trade processing services to the securities industry. The company seeks to make post-trade activity fast, flexible, coordinated, and cost effective for market participants and those who serve them. ITP's clients include more than a dozen global securities firms, including some of the largest financial institutions in the world. Visit www.ITPCorporation.com to learn more.
About Document Sciences
Document Sciences is a market-leading global solutions provider for customer communications management. Our award-winning xPression software suite enables organizations to automate the creation and delivery of well-designed, highly personalized communications -- from customized marketing collaterals, contracts and policies to high-volume relationship statements and correspondence. More than 500 content-driven organizations worldwide, including over 60 FORTUNE Global 500 companies, use Document Sciences' solutions to reduce development costs by up to 90%, improve time-to-revenue by as much as 75%, and enhance the overall customer experience with highly effective 1:1 communications. Based in Carlsbad, California, with award-winning offshore services operations in Beijing, China and offices across the U.S. and in London, Document Sciences also markets its products in Europe, Australia, Canada, New Zealand, Latin America and Asia. For more information about Document Sciences Corporation, call 888.4.DOC.SCI or visit www.docscience.com.
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