Spot Systems - Press Release


		Fred Goldman Chief Executive Officer Spot Systems, Inc. 415.982.8150 x216 fredgoldman@spotsystems.com BANK OF THE WEST Selects SPOT SYSTEMS’ eFX INTERNET trading SOLUTION to Streamline Customers’ Foreign Exchange Transactions. Spot Systems’ eFX Internet Trading System and Spotserver will enable its business customers to reduce costs, protect and maximize profits, and minimize the risk associated with fluctuating currency rates December 21, 2006 San Francisco, CA – Spot Systems, Inc. announced today that Bank of the West, the California-based financial services provider with offices and branches in 19 Western and Midwestern states, has selected Spot Systems’ Internet Solution for foreign exchange trading to enable its customers to better manage and conduct foreign exchange transactions. The Spot Systems’ Internet Solution is comprised of its SpotServer product and eFX Internet Trading System. The SpotServer and eFX Internet Trading Systems, coupled with Spot’s Foreign Exchange Trading System already in use by the Bank, will provide a more comprehensive solution and increased straight through processing for Bank of the West’s foreign exchange operation. The product combination is designed to manage requests for real-time foreign exchange quotes by business customers, support interactive trader intervention when necessary, and provide a feature-rich utility that will enable Bank of the West customers to better manage their resulting foreign exchange contracts. At the same time, eFX and SpotServer enable the Bank’s foreign exchange traders to stay informed of all internet-based trades occurring with customers while also allowing them to intervene in the quoting process when certain trader defined conditions are met. With over $54 billion in assets, Bank of the West has an active Foreign Exchange trading operation. By enhancing their Internet-based foreign exchange system, the Bank can now provide business customers with more immediate, automated access to foreign exchange and international payments services utilizing real-time foreign exchange rates. The eFX Internet Trading System is a web-enabled foreign exchange product that allows banks to extend cash management and trading capabilities to their corporate clients, correspondents and even their branches. It allows them to buy and sell foreign currency spot and forward deals, initiate international wire and draft payments, or inquire about foreign exchange rates. Clients can transact business by simply using their browser. The eFX Internet Trading System communicates with SpotServer acting as a host at the Bank. SpotServer is a sophisticated middleware product which delivers customized foreign exchange rate quotations to customers based upon real time rate feeds, while allowing the Bank full control over rate quoting services, and enabling dealer quoting intervention when necessary. It also provides security, limit monitoring, customer information services for the Internet trading process, and reporting of quoted and completed FX transactions. All quotations and executed transactions are sent electronically to SpotServer which records them on a centralized data base so that the bank’s DDA, Wire, Customer Liability, and trading room FX systems have immediate access to the information in real time. Fred Goldman, CEO of Spot Systems stated, “Bank of the West’s goal is to provide customers with internet-based foreign exchange trade capabilities using up-to-the-minute rates as well as providing timely updates on the directions and trends of worldwide foreign exchange markets. In addition, Bank traders provide advisory expertise as well as hedging strategies that can reduce their customers’ exposure and minimize risk. Spot Systems is proud to continue our long-term relationship with Bank of the West by assisting them with their Internet-based foreign exchange offerings.” About Spot Systems San Francisco-based Spot Systems, Inc. is a leading provider of innovative technology designed to facilitate foreign exchange and international banking services. For more than twenty years, Spot Systems has been providing software to the international financial community--sophisticated software that addresses the complexities of foreign exchange trading and accounting for both wholesale and retail transactions. Since the advent of electronic remote issuance, Spot Systems has also been a leader in solutions allowing customers to originate FX contracts, drafts and wires from their own offices. Products include the Foreign Exchange Trading System, a real-time system for both the trading floor and the back-office; the Multi-Currency General Ledger System; the SpotServer, which operates as the real-time request interface between the Internet-based customer and the bank's back-office trading system; the International Teller System; the International Loan/Deposit System; and the eFX Internet Trading System. For more information about Spot Systems and its products, please visit www.spotsystems.com or call 415-982-8150.

Press Releases

Fred Goldman
Chief Executive Officer
                                                                                                                                             Spot Systems, Inc.
                                                                                                                                           415.982.8150 x216
                                                                                                                   fredgoldman@spotsystems.com

BANK OF THE WEST Selects
SPOT SYSTEMS’ eFX INTERNET trading SOLUTION
to Streamline Customers’ Foreign Exchange Transactions.

Spot Systems’ eFX Internet Trading System and Spotserver will enable its business customers to reduce costs, protect and maximize profits, and minimize the risk associated with fluctuating currency rates

December 21, 2006

San Francisco, CA – Spot Systems, Inc. announced today that Bank of the West, the California-based financial services provider with offices and branches in 19 Western and Midwestern states, has selected Spot Systems’ Internet Solution for foreign exchange trading to enable its customers to better manage and conduct foreign exchange transactions. The Spot Systems’ Internet Solution is comprised of its SpotServer product and eFX Internet Trading System. The SpotServer and eFX Internet Trading Systems, coupled with Spot’s Foreign Exchange Trading System already in use by the Bank, will provide a more comprehensive solution and increased straight through processing for Bank of the West’s foreign exchange operation. The product combination is designed to manage requests for real-time foreign exchange quotes by business customers, support interactive trader intervention when necessary, and provide a feature-rich utility that will enable Bank of the West customers to better manage their resulting foreign exchange contracts. At the same time, eFX and SpotServer enable the Bank’s foreign exchange traders to stay informed of all internet-based trades occurring with customers while also allowing them to intervene in the quoting process when certain trader defined conditions are met.

With over $54 billion in assets, Bank of the West has an active Foreign Exchange trading operation. By enhancing their Internet-based foreign exchange system, the Bank can now provide business customers with more immediate, automated access to foreign exchange and international payments services utilizing real-time foreign exchange rates.

The eFX Internet Trading System is a web-enabled foreign exchange product that allows banks to extend cash management and trading capabilities to their corporate clients, correspondents and even their branches. It allows them to buy and sell foreign currency spot and forward deals, initiate international wire and draft payments, or inquire about foreign exchange rates. Clients can transact business by simply using their browser.

The eFX Internet Trading System communicates with SpotServer acting as a host at the Bank. SpotServer is a sophisticated middleware product which delivers customized foreign exchange rate quotations to customers based upon real time rate feeds, while allowing the Bank full control over rate quoting services, and enabling dealer quoting intervention when necessary. It also provides security, limit monitoring, customer information services for the Internet trading process, and reporting of quoted and completed FX transactions. All quotations and executed transactions are sent electronically to SpotServer which records them on a centralized data base so that the bank’s DDA, Wire, Customer Liability, and trading room FX systems have immediate access to the information in real time.

Fred Goldman, CEO of Spot Systems stated, “Bank of the West’s goal is to provide customers with internet-based foreign exchange trade capabilities using up-to-the-minute rates as well as providing timely updates on the directions and trends of worldwide foreign exchange markets. In addition, Bank traders provide advisory expertise as well as hedging strategies that can reduce their customers’ exposure and minimize risk. Spot Systems is proud to continue our long-term relationship with Bank of the West by assisting them with their Internet-based foreign exchange offerings.”

About Spot Systems

San Francisco-based Spot Systems, Inc. is a leading provider of innovative technology designed to facilitate foreign exchange and international banking services. For more than twenty years, Spot Systems has been providing software to the international financial community--sophisticated software that addresses the complexities of foreign exchange trading and accounting for both wholesale and retail transactions. Since the advent of electronic remote issuance, Spot Systems has also been a leader in solutions allowing customers to originate FX contracts, drafts and wires from their own offices. Products include the Foreign Exchange Trading System, a real-time system for both the trading floor and the back-office; the Multi-Currency General Ledger System; the SpotServer, which operates as the real-time request interface between the Internet-based customer and the bank's back-office trading system; the International Teller System; the International Loan/Deposit System; and the eFX Internet Trading System. For more information about Spot Systems and its products, please visit www.spotsystems.com or call 415-982-8150.