News: Press Release
Bank One Corporate Trust and Lewtan Technologies, Inc. Launch New Asset-Backed Securities Web Site
WALTHAM, Mass., March 27, 2000 Bank One Global Corporate Trust Services and Lewtan Technologies recently announced a new Bank One web site, located at www.bankone.com, for publishing and disseminating information about asset-backed securities (ABS) for which Bank One is trustee. Servicing $500 billion of debt securities, Bank One Global Corporate Trust is one of the largest servicers of asset-backed securities in the U.S. By offering access to data and information on public asset-backed securitization transactions via their Internet site, Bank One is expediting the flow of information on these bonds to Bank One clients and other potential investors.
The web is unquestionably one of the best channels for disseminating information to our clients, and Lewtan was able to assist us in this effort, said Linda Patterson, senior managing director of Bank One Global Corporate Trust Services. Lewtan’s talent and web experience enabled us to provide a value added service to our customers and to the public at large. We believe this service is completely unique in the ease and speed with which critical information gets into the hands of those who need it.
Lewtan Technologies is the developer of ABSNet™ (http://www.absnet.net), an Internet site that distributes standardized performance data and related information on public asset-backed securities to professionals in the asset-backed community. Prior to ABSNet™, information on asset-backed securities was communicated primarily on paper, using non-standardized reporting metrics. In 1998, Lewtan Technologies formed a consortium among several leading organizations within the securitization industry to develop a centralized data repository and technology infrastructure for the asset-backed industry. Since the introduction of ABSNet™ in March of 1999, more than 8,000 ABS professionals have logged on to the site to gain access to performance data, news, research, and related information on public asset-backed securities.
Bank One serves as a Platinum Partner for Lewtan’s ABSNet™ site. As an ABSNet™ Platinum Partner, Bank One Global Corporate Trust is actively involved in determining the direction and development of ABSNet™. Their partnership reflects the bank’s commitment to provide leadership among asset-backed trustees in the area of information dissemination.
We’re pleased that Bank One recognizes the value that we’re providing to the asset-backed industry through ABSNet™, said Stuart Lewtan, president of Lewtan Technologies. We welcome the opportunity to assist Bank One in their effort to provide the best available services to their clients.
Bank One Global Corporate Trust provides financial services to corporations, governments, municipalities, underwriters, investment bankers and other financial entities. Managing 17,000 accounts and servicing $500 billion of debt securities, Bank One Global Corporate Trust maintains offices and client service professionals in 13 states throughout the United States. Bank One Corporation also owns several additional corporations that engage in a full range of financial services. Information about Bank One’s financial services may be accessed on the Internet at www.bankone.com.
Lewtan Technologies, Inc.® is the leading provider of technology to the securitization industry. Founded in 1986, Lewtan offers software and consulting services to investors, issuers, underwriters, rating agencies, credit enhancers, and conduit sponsors. In addition to ABSNet™, Lewtan develops and markets a variety of securitization products, including The ABS System, VST (Visual Structuring Tool), CA (Collateral Analysis), and CM (Conduit Management). Across 5 continents and 13 countries, over $55 billion in transactions are tracked with Lewtan software.
For more information, please contact:
Pamela Bennett (614) 213-2660
Banc One Investment Management Group
Ned Myers (781) 895-9800 x1127
Lewtan Technologies, Inc.
Press Center
www.ABSNet.net
