DnB Nor consolidates brokerage ops with TietoEnator
12 January 2004 | 3566 views | 0
Norwegian bank DnB Nor - created by the recent merger of Den norske Bank (DnB) and Gjensidige Nor - is implementing TietoEnator's ProBroker package to consolidate its equity brokerage operations.
DnB Nor says its combined equity brokerage business now covers more than 15% of all equity trades on the Oslo Stock Exchange.
The licensing agreement with TietoEnator includes a system integration project to consolidate the bank's brokerage systems. ProBroker includes functions for order management, trading, clearing and settlement.
TietoEnator claims its ProBroker product now has more than 50% of the market share in Norway as a result of the new contract.