The benchmarking was conducted after a significant upgrade of the TLM system resulting in a number of impressive new design features.

The benchmarking report highlights that the new TLM Corporate Actions design has the capability to offer hosted services in key operational areas within the corporate actions lifecycle. TLM CA's benchmarking performance is detailed in the subsequent report available to financial services firms upon request from www.bissresearch.com together with an analysis of the functional capability and values of TLM Corporate Actions.

Gary Wright, C.E.O., B.I.S.S. Research and creator of the B.I.S.S. business benchmarking concept said "We have been aware of the huge investment SmartStream has been making in developing TLM Corporate Actions and agreed to delay the publication of the 2009 Corporate Actions Industry Report to be able include this important system.

SmartStream has gained a valuable nod of approval from our independent industry panel for its new TLM Corporate Actions module. It is crucial that investment in new system developments is proved to be worthwhile and financially rewarding and the B.I.S.S. 2009 Corporate Actions benchmarking shows SmartStream has been very clever and mindful of changes in the securities markets and should succeed. TLM Corporate Actions offers the market a clear differential to other corporate actions products and genuine choice for financial services firms. It is always an objective of the B.I.S.S. benchmarking to find the real differences between systems and provide buyers with an independent analysis of what they are and in TLM Corporate Actions we have found and highlighted a system with a very different approach to solving the problems in corporate actions operations"

Paul Phillips, Senior Business Development Consultant at SmartStream Technologies, said: "The 2009 B.I.S.S. Accreditation reflects the significant amount of hard work and creativity invested by SmartStream to develop a new solution that offers the functionality required to meet today's event processing challenges. We are seeing high levels of interest from firms globally who are still struggling with processing inefficiencies and legacy systems that are creaking under the increased pressure of client, market and regulatory demands. As a standalone solution TLM Corporate Actions is proving to be one of the most functionally rich corporate actions solutions available today. It also offers integration with our broader suite of TLM solutions that we believe offers unparalleled ability to create more proactive middle and back office operations, reducing operational risk and lowering costs."