IFX Markets Limited in partnership with STB Systems enhances regulatory reporting systems

IFX Markets Limited, a major UK primary market maker takes a lead to strengthen anti-money laundering controls and automate regulatory reporting. STB Systems a leading Compliance software specialist is aiding the fight against money launderers and providing enhanced automated reporting to the FSA STB Systems, a world leader in regulatory & compliance software, has today signed an agreement to implement its anti-money laundering solution, STB-Detector & its regulatory reporting solution, STB-Reporter, at IFX Markets Ltd.

IFX Markets Ltd will complete the implementation of STB-Detector and STB-Reporter within the next few months. Uniquely, one project will deliver a regulatory and compliance database to automate a number of key regulatory controls, specifically combining anti-money laundering and automated reporting to the Financial Services Authority. STB-Detector, the anti-money laundering system, will analyse all daily account movements for suspicious activity.

A history of individual client activity is built against which ongoing account movements are checked. As well as spotting anything unusual within an account, the system will identify unusual activity across peer groups of similar accounts, providing IFX with an automatic analysis of everything the system considers suspicious. In addition, STB-Detector will check all client details against official sanction lists. STB-Reporter, the regulatory reporting system which also utilises data in the same compliance database will output position, foreign exchange and counterparty risk capital resources requirements as well as large exposures and credit exposures reports and other important mandatory FSA schedules including balance sheet, profit and loss reports.

Commenting on the agreement, Michael Thomas, Group CEO, STB Systems, said, "We are delighted that IFX Markets Ltd has selected STB-Detector & STB-Reporter. The flexibility of STBs rules based solution makes it an ideal choice across the entire financial sector, not just one niche. As a compliance specialist, STB is able to cover all of the key control issues a financial institution faces in a single implementation. We look forward to a long & mutually beneficial relationship with IFX Markets Ltd".

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Notes to Editors:
IFX Markets Limited
IFX Markets is part of IFX Group plc, the UK-listed financial trading and market-making company. IFX Markets is regulated by the UK Financial Services Authority and is authorised throughout the EU under the ISD Passport scheme. The company is a member of the London Stock Exchange and the Futures & Options Association.

Established in 1995, IFX Markets is a primary market maker in spot & forward foreign exchange, and also makes markets in OTC currency options, EFP currency futures, base and precious metals, and equity derivatives, including CFDs. The Company now makes competitive prices in over 100 currency pairs, 24 hours a day, from the Wellington, New Zealand opening on Sunday evening London time until the New York close the following Friday.

IFXs sophisticated internet based multi currency trading platform enables the company to act both as a liquidity wholesaler directly to clients and to offer internet trading solutions to the global financial services community.

In April 2002, IFX acquired Financial Spreads, a successful London based spread betting firm to complement their CFD trading service and capitalise on fast growing financial markets.

IFX Markets Limited
One America Square
17 Crosswall
London
EC3N 2LB
Tel: 020 7 890 8990
Fax: 020 7 892 1313
Web: http://www.ifx.co.uk/
E-Mail: info@ifxmarkets.com

IFX Markets Ltd.
Reg. in England & Wales
Reg. No: 2876284

STB Systems
STB is one of the world's leading vendors of automated compliance reporting solutions for the financial markets. Founded in 1984, STB is the market leader with offices in London, New York, Hong Kong & Singapore. STB's solutions are designed to automate the presentation of critical controls that protect financial institutions, handling both internal & external reporting to satisfy relevant regulatory bodies and assist in compliance with anti money laundering procedures. The company is one of just five approved by the Bank of England for electronic reporting and works closely with many other respected industry bodies.

STB's solutions control & consolidate multiple data sources. The use of rules-based technology ensures a stable product, & allows for development of new solutions quickly & efficiently to meet the constantly changing demands of regulatory, management, risk & other compliance reporting. STB's core competence puts them at the forefront of regulatory & compliance technologies, offering best of breed solutions for their customers. www.stbsystems.com

Press contacts
Peter Curtain / Russell Elliott
Bankside
+44 20 7444 4142
peter.curtain@bankside.com / russell.elliott@bankside.com
James Phillips
STB Systems Limited
+44 20 7403 2188
James.Phillips@stbsystems.com