NT Netting is the latest in a line of multilateral netting products from Coprocess. NT Netting is a PC-based, standalone, bank independent netting system. It is designed and built around the 32-bit Windows 2000 and Windows XP environment and makes use of the standard user interface features of these powerful and versatile operating systems.

NT Netting is a true 32-bit application, developed in Delphi. The system is fast, flexible and easy to install. There is no database engine to configure and the system does not install or use any sharable files. It is self-contained in one directory on your hard disk.

NT Netting has been on the market since January 1997 and is currently at version 7.1. The latest release contains many improvements to the counterparty approval functionality.

MAIN FUNCTIONALITY:

• Bank Independent: The system does not tie the user to a bank either for FX or for settlement.

• Invoice-based: Import of invoices from general ledger either directly into NT Netting or via our Intranet based input program IntraNetting, see separate brochure. Messages sent back to participants can be in both text and data format for reconciliation with their general ledger. We currently support CSV (for spreadsheets) and EDIFACT.

• Secure: Including user name and password. Access level control at both data and menu levels. Encryption of all data files and Audit trail.

• Payable or Receivable Driven: The user can run NT Netting in either mode.

• Selectable Base Currency: The user can select the base currency for FX rates from any of the currencies defined in the system.

• Multi-Currency and Multi-Level Pooling: This allows the Netting Centre to further reduce the number and therefore cost of transactions as well as to allocate regional treasuries to take care of the regional disbursement (time zones could be a factor here).

• Fast: The system can import, validate and compute the net position for 10,000 transactions in less than a minute.

• Comprehensive Spread: The system can handle spread in a number of sophisticated ways, including by country, by USD volume and by participant.

• Integrated Forward Contract Settlement: Forward contract transactions are handled in a tailored way both from the point of view of input at the Netting Centre and in the way they are shown in the message to participants.

• Powerful and Versatile Import Routine: This handles automatic queuing, processing and fixing of all errors and duplicates.

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SYSTEM INTERFACES:

One of the strengths of NT Netting is its ability to interface both with external entities, such as banks, and with internal entities, such as the participants in the netting. Examples of integration include:

• IntraNetting: a browser-based Input program for participants. This allows participants in the netting to input transactions, modify their own details and view the resulting netting statement on-line. This handles automatic queuing, processing and fixing of all errors and duplicates.

• E-mail: Interface via the MAPI standard to mail handlers such as Microsoft Outlook and Lotus Notes to facilitate communications via fax and various e-mail systems.

• FX Deals: Optional generation of all FX deals and deal confirmations to banks allows for simple automated zero balancing of currency accounts.

• Banks: The system interfaces with all the major cash management banks by SWIFT, DTA, EDIFACT, and several proprietary payment formats. We can build the interface if it is nonexistent.

• Other Systems: The system supports different Treasury Management Systems, such as Quantum, and Cashflow, as well as ERP systems such as SAP and PeopleSoft.

• Import of Rates: Rates can be imported from systems such as Reuters.

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ADVANTAGES:

• Cost Savings: NT Netting is a stand-alone system installed and running on a corporate server. Bank independency enables the user to choose the banks that offer the most cost-effective service for both fund transfer and FX dealing.

• Resources: As a direct result of the powerful user interface and seamless integration with other systems, NT Netting minimises use of resources at the Netting Centre. Training and implementation are also straightforward.

• Control: The Netting Centre has total control over the netting system. Parameter changes can be made by the treasury staff. Critical input (for example, fixing the rates) is done at the Netting Centre by treasury staff, not remotely by bank personnel.

• Flexibility: NT Netting has been developed to fit into any corporate environment. There are over 100 configurable parameters, which allow the system to be configured to the Netting Centre?s exact needs.

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IMPLEMENTATION:

• The system installs onto any standard Windows 2000 or Windows XP machine, either locally or onto a network drive. There are no special setup requirements.

• The system is ready to run and can be installed within a matter of days of the customer giving the go-ahead. The installation and training takes two days.