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We Build The Future Into Every Product We Develop Today

Ours is a visionary, open-architecture system that allows traders and risk managers to effortlessly
manage transactions across multiple markets. It’s
a real-time, straight-through-processing environment straight through to
the future.

We’re OpenLink.
Founded in 1992, we are a leading global developer of software solutions and support services for trading, risk
management, and operations professionals in various financial and energy markets. From our headquarters on
Long Island, New York and offices in London, Houston, Berlin, Sydney, São Paulo and New York City, OpenLink’s
experienced staff supports a growing client base that includes some of the world’s leading financial institutions,
energy concerns, and other corporate entities.

We create world-class solutions.


Leveraging the efficiencies of straight through processing, we empower our clients with a distributed, real-time
environment that is multi-tiered and scalable to meet a wide range of trading, risk management, operational, and
budgetary requirements.

Findur TM is OpenLink’s fully integrated, front-through-back-office solution for trading, risk management, and
operations needs in various financial markets. Findur is a comprehensive solution serving markets in interest rate
derivatives, fixed income securities, foreign exchange, money markets, metals, and other commodities.

Endur TM is OpenLink’s fully integrated, front-through-back-office solution for clients who manage trading and risk
management, as well as logistic and operations functions in the key energy markets, such as crude, electricity,
natural gas, and refined products.
Never Again Be Outpaced By Changing Markets

OpenLink started with a core conviction and a central vision — that trading, risk management, and operations
in today’s ever-changing financial marketplace require a truly integrated and open architecture. A flexible and
adaptive framework that could convert labor-intensive, front-through-back-office tasks into highly efficient,
automated processes to support the unique requirements and best practices of traders, risk managers, operations
experts, and technologists.

Since OpenLink’s inception, the financial markets have


tested our central vision. Challenges have come from
many directions: globalization and the consolidation of
large financial institutions; Y2K and Euro conversions;
liquidity crises; the rise and fall of the dot-coms; new
regulatory requirements, such as FAS133/IAS39;
deregulation in the financial and energy markets; tax
reforms within and across multiple jurisdictions; not to
mention the uninterrupted flow of innovations in
financial engineering and new technologies.

Each of these challenges revalidated our core


architecture, enhanced specific functional areas, and delivered improved solutions. For example, our existing accounting
functionality already supported potential FAS133 and IAS39 requirements
before they were even finalized.

Findur links your front-, middle-, and back-offices with functionality that
was expressly designed to cover the entire transaction life cycle of a
deal. All transactions are processed in real time, in a straight-through-
processing environment, giving you greater control over your market,
credit, and operation/processing environments, including inherent risks
and limits.

At every critical juncture, Findur provides the tools you require to create
the best solutions for your trading, risk, and operations needs.

Today, Findur— our trading, risk management, and transaction-


processing system — allows an ever-increasing number of clients in the
financial services industry to see more, do more, and make more.
Markets Revolutionized. Today and Tomorrow

• Straight through A Best-of-Breed World


processing Leveraging a robust foundation with an integrated,
• Trader Desktop and TFE straight-through-processing design, Findur was
technologies developed to be a leading player in a best-of-breed
world. Whether you are looking for a high-end interest
• Web-enabled solutions rate derivative trading system, a precious metals
• Microsoft-based application, an FX and money markets suite, an
development environment enterprise-wide risk management system, an energy
trading and risk management solution, or a real-time
credit/risk limit system — Findur is the answer.

As a leading front-office solution, Findur offers a set


of unparalleled trader-centric facilities. Findur
employs Trader Desktop and trader front end (TFE) technologies for: spreadsheet-like deal capture, real-time
position pages, advanced analytics, flexible structuring tools, support for third-party and/or proprietary pricing
models, extensive integration and interfacing capabilities, and optional development tools for highly customized,
front-office requirements (such as Excel-based, trade capture spreadsheets).

Equally important, as an enterprise-wide risk management system, Findur further leverages its advanced
analytical infrastructure, flexible modeling framework, and efficient integration and interfacing features to
handle a wide range of risk management requirements and applications. Unlike first-generation risk systems,
Findur’s risk foundation is built with instrument encapsulation (IE) modeling — not with static and unintelligent
equivalent cash flows. In other words, Findur performs evaluation at the instrument level, not with “proxy” cash
flows. This IE approach delivers many unique benefits. Among other things, it allows you to evaluate risks in terms
of market (across a wide spectrum of financial and commodity markets) and credit, as well as operational and
volumetric (physical) exposures against various asset classes and products.

Another significant benefit of IE is its comprehensive generation of transaction events. These events, normally
needed for operations processing, can now be utilized for capturing components of operational risks. Other IE
benefits include capabilities that enable you to capture “pricing model” risk; preserve prior investments in
proprietary analytics; capture structuring risk; and integrate new risk technologies.

Findur, in fact, redefines operations processing with its extensive integration capabilities. Focusing on the
automation of repetitive and labor-intensive back-office tasks, Findur streamlines operations services including:
rule-based trade processing, custom hedging strategies, profit and loss allocations, real-time exception alerts,
confirmation generation, settlements, and sub-ledger posting, providing significant increases in productivity and
cost reduction even in the most demanding back-office environments.
By leveraging Findur’s integration capabilities, OpenLink clients can preserve significant investments made in
various front- and middle-office tools. Seamless integration allows traders to continue using their favorite
spreadsheets, while benefiting from the added functionality of real-time credit and limit monitoring, real-time
position pages, automated operations services, and various straight-through-processing capabilities.

By every measurement, Findur — from front- to back-office — revolutionizes the term, “best of breed.”

A Universe of Integrated Solutions


For many financial institutions, a strong, cross-market, integrated solution for their trading, risk management, and
operations requirements is an absolute necessity. The primary reason? Maintaining a collage of "special-interest"
systems can create a significant and unnecessary burden on a business. From the perspective of both technology and
staffing, such systems not only consume
operating funds, but also encroach on capital
reserved for key investment purposes and
business initiatives.

Often, the organizational structure itself can be


a major challenge when considering the
implementation of an integrated solution.
Financial institutions are usually organized
according to traditional lines of trading
activities (among other things: FX, money
markets, structured products, and derivatives),
creating a scenario where diverse business
units typically have varying degrees of business
needs and priorities. This sets the stage for a serious and all-too-common dilemma: How do you manage
competing and conflicting objectives and priorities between your treasury and capital markets staffs?

Although many vendors claim to offer cross-market, integrated solutions, many of these are actually nothing
more than stitched-together patchworks of separate systems or modules. OpenLink is one of the few solution
providers with a proven record in providing true, cross-market, integrated production solutions for a wide range
of banking clients. In addition, our Next Generation eXtensible (NGX) Framework, the foundation of all of our
solutions and products, provides facilities and services to take on the organizational challenge, transforming
technology’s "necessary evil" image.

No special interest systems. No patchwork solutions. And, most important, no worries about how to integrate
technologies that have yet to reach the radar screen.
Performing Across Multiple Markets
Here is a brief look at how Findur can enhance your capabilities.

Interest Rate Derivatives


Traditional derivatives markets have evolved
from a tightly controlled environment to an open
marketplace. To compete in this arena, your system
needs to capture trading activity and associated
risks in real time. Whether you trade derivatives
outright, hedge interest rate risk or structure notes,
Findur unlocks the analytics of derivative strategies
to provide optimal solutions. In addition to interest
rate swaps, options, and exchange-traded futures
and options, Findur also supports quanto, overnight
index, and CMS (yield curve) swaps; structured
products, swaptions and digital options — all in an
environment designed to provide maximum flexibility.

Capital Markets
You can create added value by streamlining trading, risk, and support for all capital market products under
the umbrella of one integrated solution. Whether you are issuing a structured note with embedded options
or buying a six-month T-Bill, Findur is designed to support a wide range of security types from the simple to
the most complex. Instrument coverage includes: asset-backed securities, medium-term notes, government
bonds and notes, corporate high-grade and high-yield bonds, U.S. agency benchmarks, municipal bond securities,
asset swaps, dual-currency bonds, bond options, and bond futures.

Foreign Exchange and Money Markets


The high transaction volume of these markets demands a lot of your traders — and your technology.
Findur is designed for rapid entry of vanilla deals, yet easily accommodates complex funding structures
without compromising risk analytics. Instruments supported include: loans, deposits, call notices, CDs,
commercial paper, spot FX, forwards — and FX options including barriers, knock-outs/ins, and digitals.
Market and Credit Risk Limit Management
Findur can compute real-time credit risk according to the latest regulations — and beyond. Market and
credit risk limits can be set for countries, counterparties, groups...and availability will be checked and
updated automatically for each new deal, issuing warnings and notifying risk managers of excesses. Limits
can be defined with the utmost flexibility, all with user-defined time bands. Temporary limits and letters of
credit, collateral management and netting agreements also can be taken into account. The result? Totally
configurable and automated market and credit risk management for your entire operation.

Asset/Liability Management
Traditional accounting-based asset/liability management practices are
giving way to more advanced, risk-based modeling techniques. By
looking at assets and liabilities through a dynamic risk management
framework, you can manage your balance sheet more dynamically,
effectively — and realistically. Findur provides you with all the tools
you’ll need to compete and succeed in the brave new world of
asset/liability management.

Energy and Other Commodities


Endur — our leading benchmark trading and risk management system
for the energy marketplace — shares a common ADI platform with
Findur, enabling Findur to support a wide range of financial and
physical instruments and markets, including crude, electricity, natural
gas, base and precious metals, emissions, coal, weather derivatives,
bandwidth, soft commodities, and refined products. Whether it’s
tracking multi-tier pricing structures for gas, or accounting for gravity
adjustment factors for crude and refined products — the combination
of our curve analytics and flexible instrument modeling lets you capture every aspect of the market
specifics....And it’s all done in one integrated environment.
Trade Smarter

• Flexible and customizable technology Designed from a trader’s perspective and refined with valuable input from major trading desks and leading
financial firms worldwide, OpenLink’s Findur redefines the trade capture process with the following key
• Simplified deal entry
components: our Universal Curve Engine, Trader Desktop and TFE technology, real-time position pages, and an
• Customized input optional Toolkit product. There is no more flexible and advanced deal-capturing system in today’s market than
configurations Findur.
• Ability to capture instant updates
At the core, OpenLink’s unique Universal Curve Engine drives Findur,
• View and model multiple markets and allowing traders to not only manage, but also master market attributes
attributes with ease and rapidity. With Findur, flexibility is the norm. Whether
you’re creating synthetic lease curves in gold, adding alternative curves
• Universal curve engine
with basis or “parent-child” relationships, or experimenting with new
• Cross-market functionality curve structures for emerging markets, OpenLink’s Universal Curve Engine
provides an unparalleled foundation. Its benefits have been proved time-
and-time-again by the world’s leading financial institutions.

Trade Entry Made Easy


Trade entry with OpenLink’s Trader Desktop technology couldn’t be easier.
Its spreadsheet-like format simplifies the deal-entry process, lets users
configure and customize their deal input pages, and eliminates
many potential manual-entry errors. You also have access
to real-time position pages that enable you to capture
instant updates on key positions: greeks, intra-day
P/L’s, positions, cash flow forecasts, and other
measures. We’ve combined the best in form entry and blotter functions, giving you time
to focus on what really matters — structuring and pricing deals in an environment that
you design and control.

If you have unique deal-entry requirements or have already invested significantly


in custom deal capture facilities, such as Microsoft Visual Basic or Excel-based
applications, OpenLink’s optional Toolkit product (for MS Windows 2000) is the
perfect customization tool. By employing Toolkit, you can develop sophisticated,
yet truly integrated, trade-capture or other custom applications according to
your specific internal needs. Alternately, you can preserve and extend your
investment in various Microsoft technologies by tightly coupling your existing
applications with Findur using the Toolkit.

Findur gives you the best tools to make the right decisions. So you don’t just
trade — you trade smarter.
Manage Risk With Confidence

• Market risk management At every moment of the business day, traders and risk managers need to have a dynamic understanding of the various
levels of market, credit, settlement, and operational exposures. From the portfolio level to a view of your entire
• Credit risk management
enterprise, Findur presents a complete and accurate picture
• Portfolio management of your risk profile.
• Stress testing
When risks are clear,
Unlike early-generation risk management systems, Findur
• Monte Carlo and parametric risk doesn’t just superficially map cash flows and then compute decisions are easier.
models critical risk measurements like Value-at-Risk from these
proxies. Instead, Findur features advanced "instrument-
• Scenario analysis
based" modeling, capturing all market-specific and structuring-related attributes. This allows exposure, sensitivities,
• Historical analysis and "what if" risk analytics to be calculated accurately at the instrument level, no matter how complex they are.
Delivering a far superior risk profile.
• Simulation
Findur puts decision making firmly within the grasp of
the decision maker. All risk analyses are calculated from
optimized numerical simulations, and Findur’s robust
analytic capabilities provide expeditious answers,
eliminating a dependence on shortcuts that might deliver
unpredictable results.

Additionally, Findur’s multi-dimensional


stress testing provides users with
powerful "what if" scenario analysis
capabilities. Users can easily create
custom scenarios based on a wide range of risk factors such as: market prices, volatilities, pricing
models, changes in the structure of markets, historical data, and horizon forecasts, enabling
traders and risk managers to view the markets with clarity – and move with confidence.

At the enterprise level, Findur’s optional Data Warehouse Services


is a comprehensive reporting architecture and a key reporting component of
OpenLink’s NGX Framework. Leveraging the same robust simulation results as
Findur’s real-time position and standard reports, OpenLink’s Data Warehouse
Services provide a standard, optimized tool for data transformation and OLAP
analysis. In addition, these services will significantly reduce the cost of enterprise-
level, high-end reporting requirements.

The long and the short of it all? Findur clients can now trade more effectively and
intelligently, because Findur improves their ability to monitor and control enterprise risks in
real time. And trading smarter opens the door to greater profits.
Run Operations with Ease

• User-defined processing workflow and Often overlooked, operational risks can potentially cause losses that are far greater than those attributed to
scheduling capabilities market and credit errors combined. That’s why we have developed Findur with such a strong focus on operations
• Integrated transaction event-based and operational risk management. With its extensive processing facilities, Findur empowers you to manage your
modeling operations in an automated environment, while at the same time enabling you to exercise effective control.

• Exception-based straight-through- Findur’s Operations Services, which focuses on back-


processing
functionality
office process automation and control, has three core
components: Services Manager, Exception-Based
• Real-time cash management Processing Facility, and Trade-Booking Services.
capabilities

• Open reporting engine with support for


Services Manager can schedule any operational tasks
third-party tools (including end-of-day evaluation, reporting, and sub-
ledger posting) or network services (such as limit
• Integrated subledger module with monitoring and real-time messaging). Services
advanced capabilities for custom
Manager allows the system to automatically
requirements
schedule and sequence a chain of events, eliminating
many opportunities for potential human error.

Exception-based Processing Facility can capture and apply any custom or proprietary logic to any unique
trade-processing requirement. For instance, it enables you to configure Findur to highlight as
exceptions any new deals that carry unusually high payments or mark-to-market values. This
makes it easy for your Operations staff to immediately review deals identified as exceptions
for data entry errors or, more important, integrity issues.

Trade-Booking Services presents a wide spectrum of automation processes, including


hedge generation, complex “sanity” checks, and tax code lookup.

Findur supports an extensive range of traditional back-office tasks — from


confirmations, settlements, and end-of-day processing to standard system
reports and integrated third-party reporting tools. In addition, Findur’s open and
flexible interface to various electronic payment systems allows for a high
degree of system integration and connectivity.

Findur’s sophisticated subledger accounting module simultaneously supports


both accrual and mark-to-market accounting methodologies. You can depend
on Findur to support many existing operational needs, such as FAS133 and
IAS39 accounting standards — and you can be confident that it has the design
and capacity to adapt to your future operational changes.

In short, when a trade is captured, the front-, middle-, and back-office environments
become one with Findur.
Findur. Your OpenLink To The Future
Implementation and Project Management

Managing Your Implementation Risk with OpenLink Fast TrackTM


We understand what’s at stake when a financial services company purchases and implements a new system.
Clearly, your entire trading environment is on the line. That means any implementation project must be carefully,
yet rigorously, managed to achieve optimum results.
That’s precisely why we developed OpenLink Fast
Track — a structured implementation methodology
that focuses on results.

OpenLink Fast Track consists of standard financial


models that are designed to “jump start” the
implementation process. These models energize
Findur’s initial configuration by leveraging best
practices and conventions. By employing this
pre-configured content, OpenLink achieves
significant implementation milestones in much
shorter timeframes.

Each of our implementation projects is guided by an OpenLink implementation team, consisting of an


experienced project manager, subject matter experts, and leading industry consultants. This team —
representing a balance of real-world market experience and technical know-how — has the immediate internal
expertise as well as additional resources at its disposal to ensure successful project implementation.

OpenLink’s implementation team begins its mission by first developing an understanding of your business
processes, operating environment and reporting structure. Then, using a finely tuned and rigorous project
management plan, the team draws upon the skills of each member to provide the implementation process with
early “wins” that help to guide the project steadily and efficiently to a successful cutover from your current
operating environment to Findur’s robust, straight-through-processing environment.

Once you go live with Findur, you’ll begin enjoying the benefits of a system that was designed to deliver state-
of-the-art functionality today with tomorrow’s ever-more-demanding requirements already in mind.
Support

Structure and Substance


Once implementation is completed, a seasoned team of dedicated product and technology professionals with
specific market expertise takes over. These experts know Findur and can help you maximize its effectiveness —
and optimize your investment.

OpenLink’s layered global support services operate in 24/7 mode.


These include our proprietary network of phone, e-mail, and
Web-based services, backed by our regional support groups in
New York, London, Houston and Berlin. Just as important is our
significant investment in the latest generation of query-tracking
system software, which ensures that requests are logged, tracked,
and responded to quickly, delivering the answers you need.

On-demand, Web-based status tracking also allows Findur users


to review logged issues and check on resolution details, while
permission-based remote access via dial-up facilities enables
our troubleshooting experts to resolve issues in real time.
In addition, OpenLink can make available Issue Management
Reports that allow you to maintain an accurate and efficient
record of who submitted what to whom — and, most important,
what the resolution was.

Helping to energize Findur’s technologically advanced support structure is one of OpenLink’s most important
assets — our knowledgeable and talented employees. They bring a client-centric focus to the marketplace,
working not just to meet but to exceed your expectations.
Technology

OpenLink’s Next Generation eXtensible (NGX) Framework is the


technological backbone of our Findur and Endur solutions. The NGX
Platform enables us to symbiotically address both technology and
business requirements.

The adaptive component focuses on our clients’ existing businesses


and how Findur (and Endur) can adapt and add value to existing
operating environments. In fact, Findur is the most configurable and
flexible solution in the market today. The adaptive component of the
NGX framework positions us favorably to be a market-leading
solutions provider tomorrow as well.

The dynamic properties of NGX enable our solution set users to operate
in the most flexible and scalable production environments, placing the
best means to achieve effective solutions literally at their fingertips. Our
users never have to worry about how to keep pace with new
technologies, because the dynamic component covers legacy (e.g.,
MQ Series), proven (e.g., TIBCO), and emerging (e.g., XML and EJBs)
technologies seamlessly.

The integration component highlights the platform’s awareness, capabilities, and facilities in integrating Findur
(or Endur) in any client environment. Whether you are deploying the solution as part of “best of breed” strategy
or as a truly integrated, front- through back-office solution, the Integration component will function equally well
in both scenarios.

Our NGX Platform opens the door to emerging applications and revolutionary architecture. NGX is a living
environment that will keep OpenLink and its clients at the forefront of our respective businesses.
Current Products and Key Components
The OpenLink NGX Platform, which drives Findur, uses a “layered approach” to create a flexible and scalable
solution environment.

• With the Presentation Layer, both Findur and Endur smart-clients deliver class-leading, unparalleled richness
and flexibility in graphical user interface (GUI). Specially designed Trader Desktop or TFE technology provides
spreadsheet-like functionality for fast deal entry as well as integrated real-time position management
facilities. It runs on both Windows 2000 and Sun Solaris operating systems.

• The Middle-tier Layer supports the most demanding requirements, backed by a robust messaging service
that combines TIBCO’s Rendezvous Bus and native database APIs. Whether you are a financial firm providing
more than 50 customized or proprietary multi-dimensional position tracking pages to over 1000 firm-wide Findur
users — or a trading unit that needs real-time monitoring facilities on 20 different credit and risk limits—you
can configure Findur using any number of application servers to get the job done.

• The DataStore Layer supports three major database systems — from workgroup-level
configurations using a Microsoft SQL Server in Windows 2000 to enterprise-wide
implementations that deploy Oracle or Sybase servers in a UNIX environment.

Development Tools
Although Findur and Endur offer unparalleled functionality, flexibility and
configurations, OpenLink clients may still find it necessary to customize a system to
their own unique requirements. Whether these requirements demand alternative
deal-capture screens, integration with proprietary pricing models, or an interface to
other systems or facilities, our NGX Platform provides a range of products — such
as Connex and Toolkit, as well as other integration tools — to make it all happen.

Make Things Happen for You...With Findur!


There’s no doubt about it. OpenLink’s software solutions help traders see more, do
more, and make more. We do it every day — in markets all around the world. And
we’re prepared to review your trading, risk management, and operational needs —
and demonstrate how Findur can make a real difference for your firm.

Why not discover what Findur can do for you? Call or e-mail us today.
New York • London • Houston • Berlin • Vienna • Sydney • São Paulo www.olf.com