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Exchange Systems Technology raises £1.7m

19 January 2004  |  2857 views  |  0 Exchange Systems Technology raises £1.7m

Exchange Systems Technology (EST) a London-based provider of clearing and settlement systems, has raised £1.7 million in funding from Scandinavian banking group Skandinaviska Enskilda Banken (SEB) and venture capital firm b-business partners.

EST says the investment will allow it to increase development, sales and marketing of its products, including its back-office clearing and settlements system Eclipse and margin calculator service, MarginClick.

Rob Lowry, MD of EST, says the firm is committed to servicing both the buy side as well as the sell side of the financial community

"The combination of the EST management team, and our product range, along with SEB and b-bp as business partners, now enables us to confidently embark on this new phase of growth," says Lowry.

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