New Financial Billing System for CETIP - MetraTech Corp

LONDON, February 2, 2011 /PRNewswire/ -- MetraTech Corp (http://www.metratech.com/), the innovative financial services billing system provider, has announced that it is to work with CETIP to provide billing platform services across the OTC clearing house's entire product portfolio.

CETIP is Latin America's largest central depository for over-the-counter (OTC) derivatives and private debentures securities in Brazil. With operations in Rio de Janeiro and Sao Paulo, it was created by financial institutions and the Central Bank of Brazil in 1984 to ensure support to the entire operational cycle of the financial markets.

Now, while striving to support innovative new financial product offerings in increasingly competitive global markets, clearing and settlement organisations are rapidly outgrowing their often bespoke billing systems. They are seeking financial services billing solutions that will help them accurately and transparently bill for their current and future services.

MetraTech's flagship billing platform MetraNet will provide CETIP with a billing system (http://www.metratech.com/) that enables the organisation to keep pace with the demands of a rapidly evolving market, including the ability to support both product and contract innovation from a growing customer base in expanding geographies.

Crucially, the new billing platform (http://www.metratech.com/) will also handle any monetisation aspects of CETIP's service contracts and meet the billing requirements of individual customers in a systemic manner -improving speed, traceability and accuracy with less maintenance. Furthermore, the MetraTech billing system will give CETIP the ability to scale its business via new product offerings, channel support and geographic expansion.

Commented Francisco Carlos Gomes, chief financial officer, CETIP, "We believe that the right billing system is the flexible backbone on which we will continue to build a successful future; one that will enable us to support increasingly complex and varied products and services. In MetraTech, we have found a partner who will meet our needs both immediately and into the future."

"In line with our strategy to assist the world's leading financial services organizations with the modernisation of their billing services, we are delighted that MetraNet has been chosen to support one of the largest infrastructure providers in Latin America," concluded Scott Swartz, chief executive officer of financial services billing ( http://www.metratech.com/Billing-Solutions/Financial-Services-Billing.aspx) expert MetraTech. "MetraNet will enable CETIP to face and meet the demands of a rapidly evolving market with confidence."

For more information on the billing solutions offered by MetraTech Corp, visit http://www.metratech.com/Billing-Solutions.aspx.

About MetraTech

MetraTech Corp. offers a new approach to charging, billing, settlement and customer care enabling organisations to embrace change without compromise. MetraNet, the company's flagship billing solution, ( http://www.metratech.com/Billing-Solutions.aspx) is unique in its ability to automate business processes and business models that address rapidly changing, complex or radical business strategies across any industry for an unlimited number of services. MetraNet is deployed globally, enabling diverse customers to build innovative and successful business models, securely collect revenue, and manage their entire customer lifecycle in some 12 languages, 26 currencies and 90 countries. For more information, please visit http://www.metratech.com/.