October 21, 2002
[Immediate
Release]
Wing Lung Bank Selected Excel To Provide The
Enterprise Securities Trading and Settlement System
For Its Fast-expanding Securities Business
[October 21, 2002 Hong Kong] 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 it has signed an agreement with Wing
Lung Bank Limited (“WLB”) to provide a fully integrated
enterprise securities trading and processing system (“InterTrade”) to support
WLB’s rapidly growing securities business.
According to the agreement, Excel
Technology will provide the state-of-the-art integrated InterTrade System with
straight-through-processing capability from on-line trading to settlement,
tailored to the unique WLB requirements. InterTrade will support WLB customers
to trade and settle in multiple markets, multiple exchanges with
multi-currencies for a variety of securities and derivatives. For WLB, InterTrade provides a rich set
of functions in account management, order processing, margin control, dealer
operation and risk management in the back office.
Mr. Chung Che-Shum, Executive Director & General
Manager of WLB, said, “We have a high growth securities
business and we need a readied solution which is advanced, full-functional,
secured and proven. We selected
Excel Technology’s InterTrade after a careful evaluation process.
InterTrade had demonstrated to be comprehensive in functions, and most
importantly, can be customized to cope with ever-changing business and regulatory
requirements. Excel Technology
has been our trusted technology partner for many years. With InterTrade, the
securities trading business of WLB can be seamlessly operated with the bank’s
other computer applications, thus providing higher leverage of efficiency
and cost-effectiveness. We can offer broader scope and wider range of securities
services, including Internet and IVRS and other value-added features, to our
customers.”
Ms. Peggy Chan, Chairman and CEO of Excel
Technology, commented, " InterTrade is designed for straight-through
securities processing with high security and risk management measures for
this electronic age. It is also backed by our strong technical support. We
are very happy to partner with WLB to provide the best solution for its valued
customers. The agreement also
represents the
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