KDD completely shuts down AS/400 system

Sept. 19, 2005. The Slovenian Central Depository (KDD) turned off its aging AS/400 clearing and settlement system this past June in favor of a slick, in-house developed system that is much more affordable and easier to use.

After months of running the two systems parallel, KDD switched its operations from the AS/400 system, which was the original EFA Equator system now marketed by Computershare, over to its own QuickClear system with only a minor configuration problem unrelated to the new system.

Operations are running smoothly for KDD's members, as data conversion to the QuickClear database from the Equator one was seamless because KDD opted for an automated process instead of a manual one that is prone to error.

"It's a very exciting time for KDD and our industry supporters," says Boris Snuderl, KDD's President and CEO. "The launch of QuickClear has been four years in the making."

"Equator served our marketplace well," he says, "but it is an aging system that has been driving up our maintenance costs."

Snuderl says QuickClear has many benefits that would serve any small to mid-size capital market well. "Users will notice an intuitive interface and a well-designed application that any knowledgeable CSD (Central Securities Depository) operator would pick up in minutes."

QuickClear will also help KDD with its bottom line. "With QuickClear, we are cutting our hardware, software and support costs," says Snuderl. "The design of QuickClear on Microsoft technology also allows us easier access to a widely-available skill set instead of an AS/400 one, which is hard to find and expensive."

Equator requires an expensive IBM AS/400 server to run, says Snuderl, while QuickClear operates on a pure Mircosoft, Intel platform, which are easily affordable.

"With technology driving down costs and the intuitive interface and business design, QuickClear will be easy to introduce to other marketplaces," says David Ewasuik, President of Market Evolution Software Products Limited (Market Evolution), the chief marketer for the QuickClear system.

Ewasuik knows KDD and Equator well, having been the principal founder of EFA Software Services Ltd. (EFA), the company that created the Equator solution, whose assets are now marketed by Computershare.

KDD was the original site for the Equator system, and led the way for many capital markets to power their clearinghouse operations with Equator through the nineties. Today, Equator still operates in several small, mid-sized markets and large markets around the world.

"QuickClear will be marketed with the Ljubljana Stock Exchange's trading system, QuickTrade," says Ewasuik. "They are a natural fit, having both been developed with Microsoft technology and proven in several capital markets in the last few years."

Ewasuik says both solutions are designed with to emphasize security and meet international standards set by the Federation of European Securities Exchanges, the World Federation of Exchanges and the Group of Thirty.

For more information on QuickClear and Market Evolution, visit www.mespl.com, where a more in-depth article on the benefits of QuickTrade and QuickClear can be found.

For more information, contact:

David Ewasuik
President
Market Evolution Software Products Limited
Nassau, Bahamas
Phone: 646-201-9289
E-mail: david.ewasuik@mespl.com
Web site: www.mespl.com