23 October 2017
visit www.atos.net

Gresham rises on real-time nostro news

20 April 2004  |  5126 views  |  0 graph

Shares in UK software vendor Gresham Computing have edged ahead on positive feedback from the first live deployments of its real-time nostro service, delivered by Cable & Wireless.

Reporting its financial results for the year, Gresham posted lower operating losses of £2.2 million for 2003, against £3.5 million in the year ago period. A 12% fall in revenues to £10.2 million was attributed largely to difficulites in the firm's contract staffing agency.

Shares in the vendor moved up up 4.5% to 386p, however, as the market priced in possible future gains from Gresham's involvement as the provider of application software to the C&W real-time nostro facility.

The project, which aims to deliver a central information repository for sharing nostro account information between financial institutions and other organisations, promises a steady future revenue stream from subscribers.

Andrew Walton-Green, chief executive officer of Gresham, says considerable progress has been made in the past year towards the commercial realisation of the service and the utility has now gone live utilising US Dollar information from JP Morgan Chase with the Royal Bank of Scotland as initial subscribers. Other subscribers lined up include Santander Central Hispano and Dresdner Kleinwort Wasserstein, says Walton-Green, while future data providers comprise ANZ Bank, Barclays, Bangkok Bank, Mizuho Corporate Bank and RBC Global Services.

He says: "The group's principle focus remains on assisting Cable & Wireless to deliver the Cable & Wireless RTN service to the market. The live RTN service is a significant step towards achieving this goal."

Gresham's involvement in the service is having a beneficial knock-on effect of increasing market awareness of the group and its capabilities in the finance and banking sector. The firm says it has a number of developments underway to expand its systems integration services in the bank-to-bank and bank-to-corporate systems market, including a recent contract win with a major UK bank to jointly sell software to the bank's corporate customers.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Cable & Wireless Real Time Nostro service goes live

Cable & Wireless Real Time Nostro service goes live

21 October 2003  |  8282 views  |  0 comments
Swift demonstrates real-time cash reporting

Swift demonstrates real-time cash reporting

20 October 2003  |  8548 views  |  0 comments
Gresham pins its fortunes on real time nostro

Gresham pins its fortunes on real time nostro

22 September 2003  |  4596 views  |  0 comments
Four banks commit to Cable & Wireless nostro utility

Four banks commit to Cable & Wireless nostro utility

15 May 2003  |  4829 views  |  0 comments
Banks back single nostro working group

Banks back single nostro working group

25 March 2003  |  13067 views  |  0 comments

Related company news

 

Related company information

JPMorgan Chase

Related blogs

Create a blog about this story (membership required)
visit www.innotribe.comvisit www.niceactimize.comvisit www.fivedegrees.nl

Top topics

Most viewed Most shared
Mastercard to roll out blockchain APIMastercard to roll out blockchain API
16826 views comments | 20 tweets | 34 linkedin
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
14191 views comments | 22 tweets | 30 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
10430 views comments | 12 tweets | 23 linkedin
satelliteGates Foundation backs Ripple collaboratio...
10103 views comments | 13 tweets | 10 linkedin

Featured job

Competitive base + commission + benefits
New York City, NY - USA

Find your next job