OPERATIONS

Netik announces all the relevant customers upgrade to the ISO15022 standard; ABN AMRO implements Capitalia as the first CLS in the Italian market; BoNY is selected by Torchmark Corporation to provide global-custody services.

Netik, the information-automation company that specializes in providing specific information-centric STP software solutions for the securities and other financial markets, announced all the relevant customers within its 200-plus client base have successfully upgraded to the ISO15022 standard. This was achieved using a wide range of Netik's transaction STP, financial messaging and information-hub components, including the TurboSwift and InterChange product sets.

ABN AMRO announced that it has successfully implemented Capitalia as a fully live Continuous Linked Settlement third-party-services client, making Capitalia the first CLS third-party bank to go live in the Italian market. The implementation follows ABN AMRO' s approval as a first wave Settlement Member of CLS Bank International (CLS Bank), when the settlement system for FX transactions was launched in September last year.

The Bank of New York announced that it has been selected by Torchmark Corporation to provide global-custody services. Torchmark Corporation is a financial-services holding company specializing in life insurance and supplemental health insurance for middle-income Americans marketed through multiple distribution channels.