Deutsche Börse signs Fortis to network services
18 January 2006 | 8904 views | 0
European banking group Fortis has signed a deal to use Deutsche Börse's global communications network to deliver trading and clearing services to its customers.
Under the agreement Deutsche Börse will act as the network provider to Fortis.
Deutsche Börse says trading firms connected to its network can now directly access Fortis' services for trading and clearing on derivatives and stock exchanges. The bank will benefit from over 3000 existing connections to financial services firms currently provided by the global network.
Chris Lee, global head of screen-based trading at Fortis, says: "This global deal builds on our strategy of being a major force in third party clearing and market access."
Michael Kuhn, CIO of Deutsche Börse and CEO of Deutsche Börse Systems, adds: "With this agreement we expand our IT managed services for third parties to the area of network services."
Financial terms of the deal were not disclosed.