LCH.Clearnet Ltd. (formerly London Clearing House, LCH) selects ECOFINs data models "FIDM" and "MODM" as a core element of its next generation clearing applications.

ECOFIN today announced that the development of LCH.Clearnets new generation clearing applications for all types of financial instruments will utilise ECOFINs data models "Financial Instruments Data Model (FIDM)" and "Middle Office Data Model (MODM).

Zurich (PRWEB) March 27, 2004 --ECOFIN today announced that the development of LCH.Clearnets new generation clearing applications for all types of financial instruments will utilise ECOFINs data models "Financial Instruments Data Model (FIDM)" and "Middle Office Data Model (MODM. "FIDM" allows for the complete description of terms and conditions data of financial instruments, "MODM" for the establishment and maintenance of positions in such instruments over time. LCH.Clearnet Ltd. thus ensures a stable, yet flexible and extendable data architecture for the clearing of financial instruments.

Juerg Grossmann, CTO, ECOFIN Research and Consulting Ltd.: "We are delighted that LCH.Clearnet Ltd. has chosen our models to develop their new clearing systems. We expect that the two models will give LCH.Clearnet Ltd. an important advantage for the efficient clearing of complex financial instruments. "

Guy Ruddock, Head of IT at LCH.Clearnet Ltd. says: "After a thorough evaluation we concluded that ECOFINs data models provided the best fit to our needs. The models provide a data structure that affords the extensibility that is critical in developing our new software applications. " End

Note to the Editor:
About FIDM and MODM
"FIDM" is a conceptual data model to structure and describe information on financial instruments. The model is used to describe all aspects of financial instruments, including complete information on corporate actions and on rights and cash flows connected to an instrument. Earlier versions of the model were developed in a joint venture between ECOFIN and Telekurs Financial Information Ltd., the leading Swiss data vendor. The model has been adopted by a broad variety of leading financial institutions (data vendors, stock markets, clearing houses, banks and asset managers) in Europe and in the US. "MODM" describes all aspects of keeping positions in financial instruments and other assets. It also covers orders and postings, contract specifications, conditions and investment rules. Both models are fully object-oriented and rely on the description language UML and on the exchange language XML.

About ECOFIN
ECOFIN is an innovative Switzerland-based group of companies that delivers consulting services, software products and project management, typically in the fields of asset / risk management and financial information.

For more information, visit http://www.ecofin.ch

LCH.Clearnet
LCH.Clearnet is the leading independent central counterparty (CCP) group in Europe, serving major international exchanges and platforms, equity, exchange-traded derivatives, energy, interbank interest rate swaps markets and the majority of the Euro-denominated and sterling bond and repo markets. It aims to serve as a catalyst for further CCP consolidation in Europe.

LCH.Clearnet is owned 45.1% by exchanges, 45.1% by users, with the balance being held by Euroclear. With extensive governance rights for users and trading platforms, LCH.Clearnet is committed to operating under strict principles of non-discrimination across its customer base.
LCH.Clearnet aims to deliver services of the highest quality and set new industry standards in risk management, operational efficiency, IT systems and product development and delivery. The business model will eliminate duplication of operational and investment costs and afford greater economies of scale.

Accessing the widest range of CCP services in the world, LCH.Clearnet users will increasingly benefit from the consolidation of this broad range of markets and instruments, improving returns and freeing up capital for other activities.
For more information, visit http://www.lchclearnet.com