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DATE:               Immediate Release: 8th September 2009  

CONTACTS:     Barry White 

            Regional Director of Asia Pacific 

            Patsystems plc                                      +65 6216 0452

 

                        Katherine Bradford

                        Head of Marketing

                        Patsystems plc                                      +1 312 542 1313    

    

Patsystems Selected as Technology Provider for 

Indonesia Commodity and Derivatives Exchange 

 

Singapore: 8th September 2009 - Patsystems is pleased to announce that it has been selected as the preferred technology supplier for the newly established Indonesia Commodity and Derivatives Exchange (ICDX). Patsystems will provide ICDX with the complete exchange solution which includes the trade matching engine, clearing and settlement platform, pre-trade risk management and the front-end execution platform. 

Using Patsystems' robust and scalable exchange platform, ICDX will run on advanced, low-latency technology. The flexible, internet deployable front-end trading platform will be easy-to-use and suitable for all types of traders. ICDX will benefit from Patsystems' global network of customers, which will automatically bring thousands of traders to the ICDX market. 

Operating from a country renowned for being amongst the world's largest producers of agricultural commodities and industrial raw materials, the ICDX is poised to serve as a major venue for price discovery, benchmark pricing and risk management. The Patsystems' exchange solution will facilitate the integration of electronic trading among this multitude of domestic producers and traders, and provide access to international customers who want to participate in this deep marketplace.

Megain Widjaja, Managing Director of ICDX, said:

'Patsystems empowers ICDX to provide open connectivity, which enables global market access to ICDX and the ability to collaborate with other exchanges around the world. Together, we are confident that we can create a successful marketplace.'   

Barry White, Regional Director of Asia Pacific, said:

'Being selected as the key technology provider for ICDX fully illustrates the breadth of Patsystems capabilities with the provision of exchange, clearing, trading, and risk management technology. Our systems are flexible enough to be used independently, or in this case, integrated into one comprehensive front to back turnkey solution.'

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About Patsystems

Patsystems delivers tailored solutions, built from modular components, to enhance derivatives trading performance and trade processing. We work in partnership with our customers to deliver robust systems that align with their business strategies. Our solutions can range from a plug-and-play module to address a specific issue, to complete high-performance trading systems with global market access. Patsystems operates from a global network of offices covering all major derivatives trading centres. Our shares are traded on the London Stock Exchange's Alternative Investment Market (AIM).  www.patsystems.com

About ICDX

ICDX is a fully licensed Commodity Exchange and clears its trades through ISI Clearing, a 100% subsidiary of ICDX. With the full support of the Indonesian government, the ICDX is poised to become the world's pricing benchmark for Indonesian prime commodity products and aims to become a trading hub for the regional economy. Empowered by a state-of-the art electronic trading platform, the ICDX enables global market access and open connectivity, allowing participants the ability to mitigate risk and facilitate the process of price discovery efficiently. ICDX 'Trade at the Source, Anytime, Anywhere,'™ (www.icdexchange.com)

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