Wilco becomes partner for IBM

IBM and Wilco International have entered into an Advanced
Business Partner Agreement. IBM will provide sales and integration services for
Wilco's global securities processing and settlement system, Gloss, which Wilco
will continue to develop, market and sell. Also, Wilco's Gloss will provide the
back office securities processing and settlement component of the IBM Straight
Through Processing (STP) Workbench for e-business for broker and dealers.

Wilco's Gloss is a real-time integrated system for trade
processing, clearing, settlement and accounting. Gloss can support a wide range
of financial instruments, including international equities and warrants, as well
as bonds such as international sovereign debt, non-sovereign debt, emerging
markets and floating rate notes. It offers a broad range of functional support
for principal and agency business, collateral management, investment banking,
and treasury.

The IBM STP WorkBench is a modular set of offerings
comprised of consulting, re-engineering and integration services as well as
hardware and software components from IBM and select industry-leading software
business partners. The STP WorkBench helps broker and dealers; global custodians
and investment managers settle trades more quickly, reduce costs, lower
operational risks and improve customer service. It leverages IBM technology to
support the integration of new functions and existing systems operating on a
variety of platforms.

“Gloss's multi-market and multi-currency functions make
it an ideal product to support the consolidation of securities operations for
clients looking to lower cost, promote increased operational efficiency and
facilitate expansion into new global markets,” said Tom Shaw, Director (STP),
IBM Global Financial Markets. “Wilco's Gloss combined with IBM's integration
services make it a powerful solution for securities firms that look at STP as
not only an industry mandate but also a business growth opportunity.”

(CNS)