Santiago Stock Exchange (SSE) Becomes Clarity Systems Business Partner

January 27, 2010

SANTIAGO, Chile, Jan. 27 /PRNewswire/ – 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 Catolica 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

“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 Federacion 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 www.claritysystems.com.

SOURCE Clarity Systems Limited

Source: newswire

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