WALTHAM, Mass. and LONDON, April 16, 2009 – The Depository Trust & Clearing Corporation (DTCC) has selected MetraNet™ 6.0, MetraTech’s innovative billing and customer care product, to support its expanding global portfolio of products and services, MetraTech (http://www.MetraTech.com/) announced today. For its customers, DTCC services more than $1.88 quadrillion in securities transactions a year, which necessitates the use of highly complex discounting algorithms across equally complex customer account structures.
MetraNet’s Dynamic Business Modeling capabilities will enable DTCC to focus on developing new products and expanding its customer base while achieving clear auditability across both new and existing offerings. MetraNet 6 will facilitate DTCC’s delivery of world-class customer care by providing customers with timely and concise account summary information with the ability to easily drill into granular detail. DTCC’s customers will also be able to configure and manage account data according to their own preferences and export it to a spreadsheet for further analysis. MetraNet will also help DTCC meet cost-saving, “green” objectives, by reducing the need for DTCC to produce paper invoices.
“As DTCC expands its product line, client base and geographic reach to serve our customers’ needs, we need the technological tools to support our business objectives in an efficient, auditable and cost-effective way,” said Anthony Savarese, Managing Director, Finance, for DTCC. “We believe MetraNet™ 6.0 will give us the flexibility and speed to adapt our billing, customer care and reporting capabilities to the evolving market demand.”
“As one of the world’s leading financial services infrastructure providers, DTCC handles extremely high-volume and complex transactions for a growing global base of customers,” said Scott Swartz, Chief Executive Officer, MetraTech Corp. “We are delighted to help DTCC increase the efficiency and automation of workflows for existing offerings as well as quickly expand into new markets.”
MetraTech Corp. offers a new approach to charging, billing, settlement and customer care enabling organizations to embrace change without compromise. MetraNet, our flagship product, 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. MetraTech offers a variety of delivery options ranging from licensing to outsourcing. Headquartered in Boston, MetraTech has offices in San Francisco, Dusseldorf, Paris, Singapore, Rio de Janeiro and London. MetraTech is a venture-backed, privately held company whose investors include Accel Partners, Bessemer Venture Partners, Meritech Capital, and Vesbridge Partners. For more information, please visit (http://www.MetraTech.com/).
The Depository Trust & Clearing Corporation (DTCC), through its subsidiaries, provides clearance, settlement and information services for equities, corporate and municipal bonds, government and mortgage-backed securities, money market instruments and over-the-counter derivatives. In addition, DTCC is a leading processor of mutual funds and insurance transactions, linking funds and carriers with financial firms and third parties who market these products. DTCC's depository provides custody and asset servicing for more than 3.5 million securities issues from the United States and 117 other countries and territories, valued at $27.6 trillion. In 2008, DTCC settled more than $1.88 quadrillion in securities transactions. DTCC has operating facilities in multiple locations in the United States and overseas.
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