Xinhua Finance and Fermat Partner in Delivering Basel II, Risk and Performance Software Solutions to China

SHANGHAI, China, July 16 /Xinhua-PRNewswire-FirstCall/ — Xinhua
Finance Limited (“XFL”; TSE Mothers: 9399; OTC ADRs: XHFNY), China’s
premier financial information and media services provider, today announced
the signing of an exclusive agreement with Fermat, a leading independent
provider of risk and performance management solutions to the global banking
industry, to distribute and support Fermat’s range of Basel II, Risk and
Performance management software solutions in Mainland China.
This strong alliance will expand Xinhua Finance’s offerings for its
core client group of investment firms, credit institutions and, especially,
retail and commercial banking operations as they move toward compliance
with the Basel II Capital Accords and International Accounting Standards.
The pact also enables Fermat, which recently was voted the overall global
#1 Basel II solution vendor by readers of RISK Magazine, to extend its
presence in Asia to the rapidly internationalizing Chinese financial
sector.
Fermat’s Basel II, Risk and Performance Management software solutions
complement Xinhua Finance’s comprehensive portfolio of data and analytics
products, which include market indices, financial data banks, credit
ratings assessments, financial modeling tools and a market risk management
platform. In particular, Fermat’s regulatory capital calculation and
reporting solution, Fermat CAD (Capital Adequacy Directive) Basel II, is
expected to fulfill growing demand in China for Basel II compliance systems
before the 2010 implementation deadline. The Basel II Capital Accords are
recommendations on banking laws and regulations issued by the Basel
Committee on Banking Supervision, an institution created by the central
bank Governors of the Group of Ten nations.
“At present, most Chinese banks’ Basel II initiatives are still being
defined or in the early planning stages as the market awaits CBRC’s
detailed interpretation of the Accords. We are delighted to ally with
Fermat, the industry leader, in offering the Basel II and risk solution of
choice here in China,” said Fredy Bush, CEO of Xinhua Finance. “Moreover,
we view this agreement as an integral step in the execution of our
Solutions strategy. We will continue to leverage our deep understanding of
international standards and China’s current financial and regulatory
environment to help Chinese financial institutions compete in the world
economy,” added Ms Bush.
Fermat and Xinhua Finance are currently working together to adapt
Fermat’s range of software solutions to China, creating country-specific
configurations in a Chinese-language interface to add on top of an
innovative architecture that optimizes scalability and flexibility. The two
parties will also develop internal processes in order to meet the local
customer service requirements of China’s large banking groups.
“Xinhua Finance’s on-ground operational agility and unrivalled local
knowledge base make it the ideal agent for our China sales efforts. We look
forward to working closely with them in delivering industry-best on-site
technical and implementation support,” commented Gilbert Gagnaire,
Co-Founder of Fermat and Chief Operating Officer of Fermat Private Limited,
Fermat’s Asia-Pacific wing.
About Xinhua Finance Limited
Xinhua Finance Limited is China’s premier financial information and
media service provider and is listed on the Mothers Board of the Tokyo
Stock Exchange (symbol: 9399) (OTC ADRs: XHFNY). Bridging China’s financial
markets and the world, Xinhua Finance’s proprietary content platform,
comprising Indices, Ratings, Financial News, and Investor Relations, serves
financial institutions, corporations and re-distributors worldwide. Through
its subsidiary Xinhua Finance Media Limited (Nasdaq: XFML), Xinhua Finance
leverages its content across multiple distribution channels in China
including television, radio, newspaper, magazine and outdoor media. Founded
in November 1999, the Company is headquartered in Shanghai, with offices
and news bureaus spanning 11 countries worldwide. For more information,
please visit http://www.xinhuafinance.com
About Fermat
Fermat is a leading independent provider of risk and performance
management solutions to the global banking industry. The company addresses
the large demand for new measurement and monitoring systems created by the
fundamental shift in the banking industry from P&L driven practices to
performance/risk driven business management. Fermat has more than 100
customers in 25 countries and has implemented 15 large and medium sized
banks in APAC since 2005. For more information, please visit http://www.fermat.eu
About Fermat Private Limited
Fermat Private Limited is responsible for Fermat’s business in the Asia
Pacific region. For further information, please contact apac@fermat.com.sg
For more information
Xinhua Finance
Joy Tsang, Director of Corporate Communications
Email: joy.tsang@xinhuafinance.com
Tel:   +86-21-6113-5999; +86-136-2179-1577

SOURCE Xinhua Finance; Fermat

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