December 9, 2002

[
Immediate Release]

 

Royal Bank of Canada Selects Excel To Provide
InterTrade System For Its Hong Kong Investment Advisory Unit

 

[Hong Kong, December 9, 2002] Excel Technology International (Hong Kong) Limited ("Excel Technology"), a wholly owned subsidiary of Excel Technology International Holdings Limited [stock code: 8048], is pleased to announce that RBC Investment Services (Asia) Ltd ("RBC Investments"), the international investment advisory unit of Royal Bank of Canada (RBC Financial Group) in Asia, has signed a contract to implement its securities trading and processing solution using the InterTrade system.

 

Excel Technology will implement a complete InterTrade system covering front-office trading, settlement, futures and options operations, and customize it to the unique requirements of RBC Investments. The integrated risk management functions and the AMS/3 connection feature will allow orders to be validated and sent to the trading system of Hong Kong Stock Exchange directly. The system's totally electronic "straight-through-processing" capability will also enable fully automated operations from front-office trading to back-office settlement for RBC's equity, futures and options trading with the Hong Kong Stock Exchange.

 

As part of this agreement, Excel will also provide the hosting service for RBC Investments. Through Excel's subsidiary i21 ASP service provider, Excel assures RBC Investments of efficient operation, along with reliability, data privacy and security, in i21's highly secure data center facility. InterTrade will also be deployed together with the real-time quote service system from Powerticker, a leading internet-based information provider covering Hong Kong and other markets.

 

"In view of investors' growing demand for stock trading and settlement in the Asia Pacific region, a robust, scalable and reliable securities trading and processing system, which supports multiple markets and multiple currencies, is crucial to our operations," says Mr. Francis Ka, President & Director of RBC Investments. "Excel's InterTrade has a strong track record among Hong Kong financial institutions and will help us deliver more efficient and sophisticated products and services to clients in Hong Kong, Canada, and around the world."

 

"With the use of Powerticker's web-based solution, investment advisors can provide overseas clients fast and easy access to real-time pricing, in-depth market news, and Standard & Poors own rating and commentary on Hong Kong and Asian stocks," added Ka. "Clients will also benefit from faster turnaround in trading, more efficient settlement, better real-time market information, and improved service."

 

Ms. Peggy Chan, Chairman and CEO of Excel Technology, commented, "InterTrade is a high-end solution that has received recognition from many reputable banks and financial institutions which put great emphasis on reliability and dependability of computer systems. We are very happy that InterTrade, once again is being chosen as the perfect solution by a multi-national bank such as RBC. With the implementation of InterTrade, we are confident that RBC will enjoy fully automated operations from front to back office while its valued customers can trade with great comfort that their orders will be executed timely and accurately."

 

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