CHICAGO, IL [January 10, 2008] United Financial Technologies ("UFT"), a designer and developer of financial instruments and solutions, signs Estuary Capital Markets, LLC (www.estuarycapital.com) as part of UFT’s Preferred Vendor Network. Estuary Capital Markets will provide marketing services to Placement and Remarketing Agents that are handling UFT's debt finance instruments - the Collateralized Variable Rate Demand Note ("CVRDN") and Managed Variable Rate Demand Note (“MVRDN”).
“Estuary Capital Markets is highly skilled in communicating the attributes of our CVRDN and MVRDN financial products. In this current market, Estuary will work to highlight how UFT's model instruments build upon the strongest and most resilient segments of the marketplace to foster a consistent product-driven destination in the present-day investors' flight-to-quality away from the likes of ABCP, ARS, mono-line backed commercial paper, and other such securites,” comments Joanne Marlowe, Chief Executive Officer, United Financial Technologies. “We are thrilled to see a strong baseline alliance developing between our Placement and Remarketing Agents and Estuary. With Estuary focusing on the market training and education related to our instruments via its pass-protected, secure web-based portal, we are confident that the marketplace will grow to appreciate what sets the CVRDN and MVRDN apart from what have grown to be perceived as "fringe" short-term securities in recent months.”
The CVRDN and MVRDN are representative of improvements within a class of short-term money market investment instruments. Like other quality instruments in this class such as investment grade Variable Rate Demand Note (“VRDN”), they satisfy 2(a)(7) investment guidelines, and incorporate a 7-day ‘put/call’ function that supports a high and consistent degree of liquidity for investors. Estuary has focused its approach to the marketplace on information availability, transparency, and increased communications efficiency as its primary missions. Unlike comparable instruments in its class, Estuary is supporting the Placement and Remarketing Agents it services with a web-based electronic document and information delivery system that is available for use once a designated subscriber has pre-qualified and registered as a “qualified institutional buyer”or “QIB.”
In order to call up and confidentially review individual instrument offerings immediately as they become available, a pre-qualified and approved investor may log-in to Estuary’s website and view a brief description of a pending Note issuance as offered by one or more of the Placement Agents. Documents that may be accessed include a selection of pdf versions of the Deal Summary Sheet, the published Private Placement Memorandum, and a selection of related Note Documents. An Estuary User may also request a general information package on the Issuer as the basis to support a more complete profile of the investment recipient.
Through its forward-thinking philosophy of information access, communication enhancement and electronic document delivery, Estuary has assembled a marketing services methodology that supports each Placement and Remarketing Agent in a manner consistent with the high regulatory standards that are necessarily observed by those institutions. Estuary's objective is to deliver fast and reliable information that enhances the performance of the FINRA member firms that are offering both CVRDNs and MVRDNs to the marketplace.
United Financial Technologies, a designer and developer of financial instruments and solutions, is a privately held company headquartered in Chicago, Illinois.