Royal Bank of Canada has signed a five year agreement to use Rolfe & Nolan's ASP services for settlement management of its futures business within its Toronto, New York and Sydney back office operations.
The bank has been using Rolfe & Nolan's system in its London office for the past two and a half years. The new agreement includes both software licenses and facilities management and ousts the SunGard-supplied Devon system from the Toronto and New York offices.
Mark Clatworthy, managing director of RBC Dominion Securities European operations, says: "Our migration to the Rolfe & Nolan system is based on a strategic decision to centralise our futures operations, currently run on disparate systems. Using one system globally will enable us to have a consolidated view as well as an individual view at each entity level."