Brussels 7 September 2006: Fortis, one of Europe's largest financial institutions, went live with version 2.0 of the Framesoft Confirmation Generator (FCG).
Version 2.0 uses the Framesoft Online Negotiation (FON) platform providing greater versatility in the creation and maintenance of templates plus editing, approving and matching of individual confirmations.
Fortis is processing all its Interest Rate Swaps and Currency Rate Swaps in FCG including almost all related events, e.g. fixings and terminations.
The IRS and CRS swap confirms can be generated in three languages (English, French and Dutch) and reference ISDA master agreements held in the Framesoft Contract Repository (FCR) which has been in production at Fortis since 2001.
Later this year Fortis plans to expand the use of FCG to include Caps and Floors under both ISDA and AFB master agreements as part of a roll out that will also include the Amsterdam branch.
About Fortis
Fortis is an international financial services provider engaged in banking and insurance. We offer our personal, business and institutional customers a comprehensive package of products and services through our own channels, in collaboration with intermediaries and through other distribution partners.
With a market capitalisation of EUR 36.2 billion (31/07/2006), Fortis ranks among the twenty largest financial institutions in Europe. Our sound solvency position, our presence in 50 countries and our dedicated, professional workforce of 58,000 enable us to combine global strength with local flexibility and provide our clients with optimum support. More information is available on www.fortis.com.