Santiago Stock Exchange (SSE) Becomes Clarity Systems Business PartnerBy Clarity Systems Limited, PRNE
Tuesday, January 26, 2010
Leading South American Stock Exchange to Promote Clarity FSR(TM) to Member Firms
SANTIAGO, Chile, January 27 - Clarity Systems, a leader in corporate performance management (CPM) and
financial governance solutions, today announced that it had signed a business
partnership with the Santiago Stock Exchange (Bolsa de Comercio de Santiago),
the most comprehensive stock exchange in the Chilean financial market.
The partnership sees the Santiago Stock Exchange and Clarity working
together to market and promote Clarity FSR within the Chilean market to
address the external reporting needs of publicly listed companies. Clarity
FSR is the only enterprise software that automates the external reporting
process for publicly-listed firms, stock exchanges and other organizations
which need to assemble, create and file statutory and regulatory reports as
part of their external reporting process. With Clarity FSR Chilean companies
now have an alternative to existing and very limited XBRL bolt-on solutions.
Clarity FSR automates the entire external reporting process with its unique
and integrated Tag Once(TM) XBRL functionality; something existing bolt-on
XBRL solutions just cannot do. The SSE will also be using Clarity FSR
internally to produce regulatory reports.
"At the Santiago Stock Exchange, we pride ourselves on being
technological innovators, which has seen us win many honours, including the
'Infrastructure and Technology' award from the Pontificia Universidad
Católica de Chile at CETIUC 2009," said Gonzalo Ugarte, COO, Santiago Stock
Exchange. "In that spirit, we are pleased to deploy and to introduce to our
community the increased efficiencies and risk reductions delivered by
Clarity FSR. We appreciate the solution's ability to create reports that
are linked to financial source data, enabling auto-generation of the latest
version of various monthly reports, quarterly analysis reports and
financial figures, annual reports and other documents. As well, being able
to output these reports in multiple formats including XBRL, PDF, Microsoft
Word and Adobe InDesign, is in keeping with our commitment to be a leader
in financial services."
"This partnership puts the SSE in the vanguard of the world's regional
exchanges in its quest to provide efficiencies and transparency to its
customers," said Frank Pizzolato, CEO, Clarity Systems. "We look forward to
working with the Exchange to expand its leadership position, while bringing
the advantages of the world's leading financial governance solution -
Clarity FSR - to Chile's many publicly-listed companies."
About Santiago Stock Exchange (SSE - Bolsa de Comercio de Santiago)
Santiago Stock Exchange (SSE) is a public corporation founded in 1893.
Its equity is comprised of 48 shares, 32 of which are held by brokers. It is
a member of the Federación Iberoamericana de Valores (FIABV) since 1973, and
member of the International Federation of Stock Exchanges (FIBV), since 1991.
Due to its role of intermediary in the stock market and its capacity of
public corporation, the institution is supervised by the Superintendence of
Securities and Insurance. For more information, please visit
About Clarity Systems
Clarity Systems delivers software solutions to the Office of Finance.
The company's software helps organisations around the world improve their
budgeting, planning, consolidations, scorecarding and management reporting
processes, and also automates the external reporting processes required to
produce regulatory and statutory reports. Clarity's unified applications
help CFOs reduce risk while simultaneously improving operational efficiency.
For more information, please visit Clarity's website at
For further information: on Clarity Systems in South America, please
contact: Alex Almeida, Clarity Systems Limited, +1-201-355-4741,
firstname.lastname@example.org; For Press and Analyst Inquiries: Dave Paolini,
Communications Manager, Clarity Systems Limited, +1-647-242-1184,
For further information: on Clarity Systems in South America, please contact: Alex Almeida, Clarity Systems Limited, +1-201-355-4741, aalmeida at claritysystems.com; For Press and Analyst Inquiries: Dave Paolini, Communications Manager, Clarity Systems Limited, +1-647-242-1184,
dpaolini at claritysystems.com
Tags: chile, Clarity Systems Limited, Santiago