LONDON, June 26, 2000 (PRIMEZONE) -- Edward Jones signs a contract for TAROT2000 MASTER worth 1.3 million pounds over three years.
The Terence Chapman Group PLC, the specialist provider of IT services and software solutions to the finance sector, is pleased to announce that its TCA Synergo Limited subsidiary ("TCA Synergo") has formed a partnership with Cap Gemini Ernst & Young ("the Partnership"), provider of management consulting and IT services, to develop an outsourced operation for the full TAROT2000 product suite. Edward Jones, the largest broker in the United States and an existing licensee for TAROT2000, has signed up to the solution, outsourcing its sharedealing operations in the UK to TAROT2000 MASTER.
TCA Synergo will provide the TAROT2000 share dealing aministration and settlement software to clients from a secure data centre run by Cap Gemini Ernst & Young. TAROT2000 functionality is available to customers on their desktops, with support from Cap Gemini Ernst & Young advisers for day to day technical and IT operations queries, and TCA Synergo teams available for more detailed product and technical answers.
TAROT2000 MASTER contracts will have two planned effects on TCA Synergo's revenue relative to traditional TAROT2000 licences: revenues will be closely linked to volumes of business processed through TAROT2000 and will be more evenly spread over users' contract periods.
International financial services group Edward Jones has become the first major client to select the TAROT2000 MASTER outsourced broking solution, in a contract set to be worth 1.3 million pounds to the Partnership over three years. Edward Jones has contracted out their financial software requirements to the secure data centre, from this month, for full UK and US access across a 24-hour operating period.
Andrew Warren, Managing Director, Financial Services Division, Cap Gemini Ernst & Young commented: "The TAROT2000 product is a market leader, and we are extremely excited to have the opportunity to work in tandem with TCA Synergo. This partnership is set to open the share dealing marketplace yet further, and we are pleased to be playing an important role in this process."
Terry Chapman, Chief Executive of The Terence Chapman Group PLC, added:
"As the share trading market grows and new distribution channels are developed, TAROT2000 MASTER provides the answer for companies seeking to offer a share dealing service to their customers without having to commit time and resources to implementing the technical infrastructure required to run a full administration and settlement system.
"We are delighted to be working in partnership with Cap Gemini Ernst & Young, one of the largest management and IT consulting firms in the world, on the TAROT2000 MASTER outsourcing solution. We believe TAROT2000 MASTER will substantially broaden the market for TAROT 2000.
"Edward Jones, one of the largest stockbrokers in the US, becomes the first major client to sign up to TAROT2000 MASTER. This early contract win demonstrates the strength of this unique outsourcing solution."