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The Depository Trust & Clearing Corporation Leverages CAST to Manage Outsourced Development Projects

The Depository Trust & Clearing Corporation Leverages CAST to Manage Outsourced Development Projects

NEW YORK, NY -- (MARKET WIRE) -- 06/21/07 -- Today innovative enterprises are utilizing multi-shore application development strategies, spreading the development of software applications to the most appropriate sources around the globe. However the benefits of outsourcing and multi-shoring can be offset by the lack of control and increased risk introduced into the software development process. To offset this considerable risk and to enable organizations to improve their control over far-flung development centers, CAST's software platform monitors not only the quality of software applications but also the efficiency of application development teams. One of CAST's customers, The Depository Trust & Clearing Corporation (DTCC), reports today that it has been successfully using the CAST Application Intelligence Platform for more than a year to help manage two strategic outsourced development projects, and has seen significant improvements in the quality of the work developed and in the performance of their off-shore partner.

The Depository Trust & Clearing Corporation (DTCC), through its subsidiaries, provides clearance, settlement and information services for equities, corporate and municipal bonds, government and mortgage-backed securities, money market instruments and over-the-counter credit derivatives.

DTCC was faced with a common challenge -- the need to develop complex, critical software systems in a tight timeframe, with limited internal resources. "Leveraging the CAST solution, we were able to mitigate quality and performance risk as we engaged an off-shore development partner to supplement our internal resources," says Ed Volpe, Managing Director, Information Services, DTCC. "With the CAST Application Intelligence Platform, we now have the ability to automatically control and monitor the quality, quantity, and efficiency of development work. Without this technology, it would be impossible for us to achieve the same level of rigorous code inspection manually. As a result, our organization is not only mitigating risk, but also achieving greater speed, substantial cost savings, and improved flexibility across the board."

At DTCC, IT management is using the CAST Application Intelligence Platform to understand, validate, and report on development across their entire technology landscape including 3GL, mainframe, and database languages. The automated code inspection system within the CAST Application Intelligence Platform provides the metrics and information needed to control the work produced by their development partner. This approach allows DTCC to ensure that the development work performed by any off-shore partners is on target and meets internal and external standards.

CAST's CEO and Chairman, Vincent Delaroche, says other enterprises can derive valuable lessons from DTCC's successful implementation of Application Development Performance Management software. "This new category of software gives organizations the control they need to manage the quality and quantity of deliverables from an off-shore development partner. Organizations that are using a multi-shore development strategy need to incorporate a system like CAST to ensure they are getting what they pay for from their off-shore investments."

About DTCC

The Depository Trust & Clearing Corporation (DTCC), through its subsidiaries, provides clearance, settlement and information services for equities, corporate and municipal bonds, government and mortgage-backed securities, money market instruments and over-the-counter credit derivatives. In addition, DTCC is a leading processor of mutual funds and insurance transactions, linking funds and carriers with their distribution networks. DTCC's depository provides custody and asset servicing for more than 2.8 million securities issues, valued at $36 trillion, from the United States and 100 other countries and territories. Last year, DTCC settled more than $1.5 quadrillion in securities transactions. DTCC has operating facilities in multiple locations in the United States and overseas. For more information on DTCC, visit www.dtcc.com.

About CAST

CAST is the world leader and pioneer in Application Development Performance Management software, providing the metrics and information IT executives must have to measure, monitor and improve the quality of business applications and the performance of development teams around the globe. Founded in 1990, CAST has helped more than 600 organizations worldwide speed delivery to the business, mitigate risks in production, improve the customer experience, and reduce the total cost of application ownership. CAST is listed on Compartment C-Eurolist by Euronext Paris (Euronext: CAS) and serves Global 2000 organizations worldwide with a network of 11 fully staffed offices in the US and Europe. For more information visit www.castsoftware.com.

CAST Press Contact:
Lev Lesokhin
Email Contact
Phone: +1 212-871-8330

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