Electra Information Systems and SWIFT are Alliance Lite Wholesale Partners
Electra has become SWIFT’s first Alliance Lite Wholesale Partner in the Americas
June 24, 2009 – New York, NY - Electra Information Systems, a leading provider of reconciliation, trade automation and settlements solutions, today announced it has entered into a strategic alliance with SWIFT to be a Wholesale Partner for Alliance Lite, an Internet-based solution from SWIFT that enables corporate and small financial institutions to connect to SWIFT easily, securely and at low cost.
As a part of the agreement, Electra will distribute Alliance Lite to its investment management customer base through integration with Electra’s ACTioN application. Given the Internet-based capability of Alliance Lite, messages may be manually entered via any Web Browser, or input automatically and electronically through Electra’s ACTioN trade messaging platform.
“The launch of Alliance Lite from SWIFT is an important development, and we welcome it. Alliance Lite makes it possible for any investment manager to join SWIFT and to communicate electronically to financial organizations everywhere, and at low cost. Connecting to SWIFT is easier than ever before, and Electra applications now fully integrate SWIFT without the need for third party interfaces or service bureau providers.” said Ian Danic, Managing Director for Electra.
Commenting on the alliance, Philippe Lecomte, Partner Manager, SWIFT Americas said, "SWIFT is delighted to have Electra as our first Alliance Lite Partner in the Americas. Electra has successfully integrated SWIFT communications into investment management operations for many years and we look forward to extending SWIFT’s reach to Electra’s many clients.”
About Electra
Electra Information Systems, Inc. is an industry innovator in providing solutions for data aggregation, reconciliation and settlements. Electra brings unparalleled expertise in delivering highly effective, easily implemented solutions that connect hundreds of financial institutions daily. Electra processes detailed information on over 1.5 trillion dollars (US$) in cash and securities holdings daily. Electra customers cover the breadth of the financial services industry, including Investment Managers, Hedge Funds, Insurance Companies, Custodial Institutions, and Banks. Founded in 1998, Electra is headquartered in New York City. For more information about Electra’s products and services, visit www.electrainfo.com.
Media Contacts:
Ian Danic
Electra Information Systems
212-696-1595
idanic@electrainfo.com
