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Press release from GlobeNewswire (a Nasdaq OMX company)

Syntel Expands Partnership With SmartStream to Enable Automated Reconciliation for Exchange Traded Derivatives

Tuesday, October 04, 2011

Syntel Expands Partnership With SmartStream to Enable Automated Reconciliation for Exchange Traded Derivatives08:00 EDT Tuesday, October 04, 2011TROY, Mich., Oct. 4, 2011 (GLOBE NEWSWIRE) -- Syntel, Inc. (Nasdaq:SYNT), a global Information Technology services and Knowledge Process Outsourcing (KPO) firm, today announced it has developed a solution that enables clients in the Exchange Traded Derivatives (ETD) market to employ TLM products from SmartStream, the financial Transaction Lifecycle Management specialist. Syntel will serve as the preferred implementation partner for new product rollouts. Exchange Traded Derivatives are challenging to process and reconcile, due to their inherent complexity and the multiple ETD data formats used by the exchanges. To address this issue, Syntel has leveraged its business knowledge to develop a library of ETD Feed Adaptors that process multi-format data feeds generated by financial exchanges and convert them into a common format that can be reconciled by transaction processing applications. "The Dodd-Frank act will drive higher volumes from OTC to trading on exchanges and this new solution will aid sell-side firms in managing risk by moving the needle from an opaque to a highly transparent model," said Rakesh Khanna, President of Syntel's Financial Services practice. "Sell-side clients can now leverage Syntel's ETD expertise to deploy our Data Feed Adaptors and automate ETD reconciliation, which reduces their operational risk and drives enhanced compliance and transparency." In addition to data management and integration services, Syntel will also be providing ongoing data feed maintenance and testing services, to ensure that its clients are able to stay current with changing exchange feeds and regulatory environments. Syntel specializes in setting up large-scale automated reconciliation "factories" for its capital markets clients, and delivers services for the full reconciliation process lifecycle, including assessment and planning, data feed management, data archiving, regression and UAT testing, performance tuning and ongoing support.   Syntel currently employs approximately 1,500 reconciliation analysts providing daily servicing for more than 60,000 funds amounting to more than $4 trillion in assets under management. To learn more, visit www.syntelinc.com/recon/About SmartStream SmartStream is a recognised leader in financial transaction management software that enables firms to overcome critical transaction processing issues through increased automation. SmartStream's industry-leading automated match rates create more proactive, exceptions-based processes that lower the cost per transaction while enabling firms to reduce operational risk, strengthen compliance and controls, and improve customer service. As a result, more than 1,500 clients, more than 70 of the world's top 100 banks, 8 of the top 10 asset managers, and 8 of the top 10 custodians rely on SmartStream Transaction Lifecycle Management (TLM®) solutions to deliver greater efficiency to their trading operations. For more information about SmartStream and our solutions visit: www.smartstream-stp.comAbout Syntel Syntel (Nasdaq:SYNT) is a leading global provider of integrated information technology and Knowledge Process Outsourcing (KPO) solutions spanning the entire lifecycle of business and information systems and processes. The Company is driven by its mission to create new opportunities for clients by harnessing the passion, talent and innovation of Syntel employees worldwide. Syntel leverages dedicated Centers of Excellence, a flexible Global Delivery Model, and a strong track record of building collaborative client partnerships to create sustainable business advantage for Global 2000 organizations. Syntel is assessed at SEI CMMi Level 5, and is ISO 27001 and ISO 9001:2008 certified. As of June 30, 2011, Syntel employed more than 18,000 people worldwide. To learn more, visit us at: www.syntelinc.com.Safe Harbor Provision This news release includes forward-looking statements, including those with respect to the future level of business for Syntel, Inc. These statements are necessarily subject to risk and uncertainty. Actual results could differ materially from those projected in these forward-looking statements as a result of certain risk factors set forth in the Company's Annual Report on Form 10-K for the year ended December 31, 2010, the Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2011, or from other factors not currently anticipated.CONTACT: North America/Europe: Jon Luebke Syntel 248/619-3503 jon_luebke@syntelinc.com AsiaPac: Suruchi Sharma Syntel +91 9833691415 suruchi_sharma@syntelinc.com