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Sierra makes its debut in Malaysia

Kuala Lumpur, Jan 26 -- PK Technology, Hewlett-Packard's key reseller for the banking industry, has introduced in Malaysia a mission-critical solution that will directly contribute to the bottom line of financial institutions.Following a strategic partnership with FNX, a US developer of financial software applications, PK Technology will market and support FNX's flagship product called Sierra System in Malaysia, Indonesia and the Philippines.

Kuala Lumpur, Jan 26 -- PK Technology, Hewlett-Packard's key reseller for the banking industry, has introduced in Malaysia a mission-critical solution that will directly contribute to the bottom line of financial institutions.

Following a strategic partnership with FNX, a US developer of financial software applications, PK Technology will market and support FNX's flagship product called Sierra System in Malaysia, Indonesia and the Philippines.

Sierra System is a suite of financial software applications targetted at supporting trading and risks management as well as Derivatives, Structured Products and Futures and Options activities.

The applications combine multiple pricing methodologies and advance analytics with streamlined Trade Processing, Settlement and Accounting features.

Sierra's structure product capability allows users to select pricing models for each component, provides a consolidated position view and offers the flexibility for payoff structures.

Sierra System will be delivered primarily on the latest HP 9000 N-class Enterprise Servers running the HP-UX operating system, and is available as a stand-alone front or back office application.

According to PK Technology, the system can be easily integrated across desks and profit centres, and interfaced with proprietary or vendor supplied applications, owing to its open architecture and unified database structure.

Announcing the partnership on Tuesday, Patricia Tang, Regional Sales Director for Financial Services Industry, HP South Asia, said it would help enhance HP's presence in emerging growth areas of derivatives, futures and other forms of financial trading.

"The effective management support provided by Sierra System gives users a strategic and mission-critical tool to further advance their trading operations and portfolios," she added.

FNX views the partnership as a strategic entry into the Asean market.

Farid Naib, founder and CEO of FNX Ltd, said he was confident that the Sierra System solution would make "inroads into this region" with the exprience and track record of PK Tech, a regional systems integrator specialising in developing and providing IT solutions for the wholesale banking sector and larger commercial enterprises.

In the seven years of its operation, FNX has successfully installed the system in international banking groups, including Credit Suisse First Boston, Deutsche Bank Securities, Citibank and the Chase Manhattan Bank. -- Maxis Net 2000