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December 14, 2010

DTCC Enterprise Billing Platform Goes Live with MetraTech's Product

By Anil Sharma, TMCnet Contributor

The Depository Trust & Clearing Corporation (DTCC) has gone live with MetraTech’s MetraNet product.

Officials with Metra Tech said that MetraNet will aid the company in providing enterprise billing and billing-related customer care services across its global product portfolio.

DTCC, which through its subsidiaries settled nearly $1.48 quadrillion in securities transactions in 2009, provides a range of clearance, settlement and information services in the equities, fixed-income, over-the-counter derivatives, wealth-management and insurance markets in the U.S. and overseas.

Company officials said that billing solution MetraNet will provide a number of critical advantages to DTCC. Its highly flexible architecture enables users to quickly react and adapt to industry change (regardless of vertical), giving DTCC a billing platform from which it can expand and adjust its service offerings. 

 "Going live with MetraTech's (News - Alert) billing and customer care product is a significant step for our organisation," said Anthony Savarese, managing director, Finance, for DTCC, in a statement.

Savarese said that DTCC recognizes that an enterprise billing solution will be a key asset as it expands its product line, client base and geographic reach, and will allow the DTCC to manage the business in an efficient and cost-effective way. 

“MetraNet will help us achieve those goals," he said.

According to Steven Murphy, research director, wholesale banking at independent consultancy Tower Group, DTCC is leading a growing and important trend in the industry. 

"Tower Group has recently identified that many major corporate banking institutions are starting implementations of enterprise billing. This is because it is increasingly recognised that an enterprise billing system can both enhance revenues and plug revenue leakage through end-to-end transaction monitoring," said Murphy.

"We are delighted that MetraNet is supporting one of the world's leading financial services infrastructure providers. Through its unrivalled ability to meet the demands of enterprise billing across multiple industries and regardless of their complexities, MetraNet continues to prove itself to be an asset to those companies on the cutting edge of their markets," said Scott Swartz (News - Alert), chief executive officer of enterprise billing expert MetraTech Corp.

MetraTech Corp. offers a new approach to charging, billing, settlement and customer care enabling organizations to embrace change without compromise.

Anil Sharma is a contributing editor for TMCnet. To read more of his articles, please visit his columnist page.

Edited by Juliana Kenny

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