ING rolls out Reuters risk system

ING rolls out Reuters risk system

Dutch banking group ING is rolling out Reuters' trade and risk management system, Kondor+, to all 1200 users at its global financial markets division.

The Kondor+ system will replace ING's existing localised front-office risk products, which have been supplied by a number of different vendors, with a single platform.

The application covers all fixed income, foreign exchange, money market and interest rate derivative activities. Reuters says being able to trade all financial instruments on a single platform will give ING a full picture of aggregated risk at an enterprise level for the first time.

Commenting on the implementation, Denis De Landsheer, MD at ING, says: "With one platform we are able to aggregate our global risks. This will aid compliance, but more importantly will mean that we are better able to manage our business."

Reuters says its Kondor Open Trade module will also enable users to price, capture and process any type of instrument. By using this module ING has already added five new instruments incorporating NumeriX financial libraries.

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