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Union Bank Re-Launches Upgraded Online Money Fund Trading System Powered by Cachematrix

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  Published in Business and Finance on Tuesday, November 10th 2009 at 6:17 GMT by Market Wire
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DENVER, CO--(Marketwire - November 10, 2009) - Cachematrix ([ www.cachematrix.com ]), the leading provider of institutional [ money market fund trading technology ] for banks and financial institutions, announced today that its technology is powering a re-launch of an upgraded money markets research and trading portal for Union Bank, named Union Bank MoneyPort ([ https://unionbankmoneyport.com ]).

Corporate treasurers and other institutional cash managers are placing far more emphasis on using web-based electronic research tools and trading technology for managing and investing their short-term cash portfolios. With the addition of Cachematrix technology, Union Bank's Institutional Trust & Custody Services group is now able to provide enhanced account management and compliance control features along with state of the art trading functionality to meet the needs of their extensive client base investing in money funds. This feature set includes:

 -- Display of money fund holdings, income accruals and rate information -- Online fund research library including, prospectus, fact sheets, portfolio holdings and more -- Extensive availability of top institutional money market funds to meet clients' needs -- Multi-currency money market investment options for qualified non-US institutional clients -- Integrated online statements and trade confirmations -- Flexible trade authorization controls and future-dated trade execution functionality -- Secure online trading via straight-through processing to the custody reporting systems -- Customizable compliance module for monitoring money market fund exposure limits -- Ability to integrate account asset and transaction data files with most treasury workstations 

"Cachematrix is committed to providing our bank partners with the industry leading technology that they, and their corporate and institutional clients, have come to expect from us," said George Hagerman, Founder and CEO of Cachematrix. "Banks partner with Cachematrix to build their [ money fund ] and [ fixed income trading systems ] not only for the cutting edge technology, but to simplify the implementation process. As a [ SaaS ] firm, we remove the burden of building, housing and maintaining these systems by handling that internally. This saves our clients considerable time, costs and resources."

"Union Bank is steadfast in its goal to deliver the most comprehensive online money markets research and trading technology available to the corporate and institutional custody and trust clients we serve. And by partnering with Cachematrix and implementing this upgraded global liquidity management solution, we believe we have set the right course for the retention of our existing client base and for greater future organic and strategic growth," said Marianne Bamonte, Sr. Vice President & Business Manager of Institutional Trust & Custody Services. "Union Bank's commitment to providing this type of money markets portal technology, its direct integration with our core custody systems, and our dedicated custody portal account servicing team will allow our clients to more efficiently manage their global short-term liquidity needs -- by reducing money funds administrative cost, minimizing errors and time spent with manual money funds management, improving trade audit and compliance controls and providing better risk monitoring oversight."

About Cachematrix

Cachematrix is the leading financial software provider (SaaS) of online institutional trading systems for banks and financial institutions worldwide, providing turnkey solutions for money market portal technology, as well as fixed income and variable NAV trading systems. For more information, visit [ www.cachematrix.com ].

About UnionBanCal Corporation & Union Bank, N.A.

Headquartered in San Francisco, UnionBanCal Corporation is a financial holding company with assets of $78.2 billion at September 30, 2009. Its primary subsidiary, Union Bank, N.A., is a full-service commercial bank providing an array of financial services to individuals, small businesses, middle-market companies, and major corporations. The bank has 337 banking offices in California, Oregon, Washington and Texas and two international offices. UnionBanCal Corporation is a wholly-owned subsidiary of The Bank of Tokyo-Mitsubishi UFJ, Ltd., which is a subsidiary of Mitsubishi UFJ Financial Group, Inc. Union Bank is a proud member of the Mitsubishi UFJ Financial Group (MUFG) (NYSE: [ MTU ]), one of the world's largest financial organizations. Visit [ www.unionbank.com ] for more information.