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  Strategic Information Technology (SIT) Ltd.

SIT Announces Support for New CANNEX Initiatives

Toronto, Canada – September 13, 2006: Strategic Information Technology Limited (“SIT”) is pleased to announce support for upcoming CANNEX functionality.

“This new CANNEX functionality will enable the automation of early redemptions of cashable GICs , the re-registration and transfer of GICs, as well as month position reconciliation”, says G. Robert Leeming, president of SIT. “These enhancements will dramatically increase the throughput of Term Deposit, GIA, and GIC business for high volume brokers, dealers, and financial institutions.”

The CANNEX Financial Network (CFN) facilitates the purchase of GICs, Term Deposits and GIAs electronically, with 30 participating financial institutions. Portfolio Plus first introduced CANNEX functionality in 1998 and has continued to incorporate new functionality as it has become available.

“SIT has been an ardent supporter of CANNEX efforts to automate the processing of GIC and Term applications. We appreciate their continued innovation and input into the development of new CANNEX features”, said Alex Melvin, Co-Founder and President of CANNEX. “We expect these features to be available before the end of 2006.”

About CANNEX

CANNEX Financial Exchanges Limited is a privately held Canadian company that has provided data and information services to the financial services industries in Canada since 1983, Australia since 1992, the United States since 1996 and New Zealand since 2003.

CANNEX is an independent third party and is not licensed to sell financial products. None of its shareholders, directors or employees are licensed to sell financial products.

No financial institution or broker/agent organization owns or controls any shares of CANNEX.

For more information please contact Alex Melvin at 416 926 0882 or email Alex at alex@cannex.com

About Strategic Information Technology Limited

SIT, formed in 1988, develops and markets Portfolio Plus, an extensible banking system that enables customers to plug-in new functionality as required. This is accomplished via SIT's unique Plug-In BankingTM architecture and a Financial Services BusTM that extends Portfolio Plus functionality to other corporate applications. SIT's banking software enables banks and non-banks to offer web banking, loans, loan securitization, investments, term deposits, wealth management, retail, ATM/POS switch interfaces for debit/credit or loyalty products, leasing, Equifax and Trans Union credit bureau interfaces, registered investment products, and much more. Portfolio Plus can also be tailored, on request, to meet specific customer requirements.

Portfolio Plus, Plug-In Banking and Financial Services Bus are trademarks or registered trademarks of SIT in the U.S., Canada and other countries. Any other trademarks or service marks contained herein are the property of their respective owners.

For more information:
Patrick Lannigan
Strategic Information Technology
Telephone: 905-640-0808 x356
Email: patrickl@stratinfotech.com

 

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This page was created or refreshed on July 04, 2017 @ 08:31:37
by Strategic Information Technology (SIT) Ltd., Stouffville, Ontario, Canada
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