Simcorp signs two to Dimension platform; upgrades expectations for 2004

Simcorp signs two to Dimension platform; upgrades expectations for 2004

Sparkassen Informatik, a provider of IT services to German co-operative banks, has licensed SimCorp's flagship investment management platform, Dimension, which it will use to provide hosted securities trading services to its 235 member banks.

SimCorp is also reporting a Dimension contract win with an un-named pension fund for a Dutch multinational company which will use the system to support its front, middle and back office operations.

The vendor says the two new orders, along with a positive development in its sales and implementation activities, have triggered an adjustment of expectations this year. Assuming the activity level in December will show a typical sale of add-on licenses to existing customers and that implementation projects run as planned, the company now expects EBIT margin for 2004 in the range of 18-20%, up from 15%.

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