Credit Suisse has signed a three-year multi-million dollar agreement with Reuters to expand the bank's online private banking and wealth management business.
Reuters will work with the bank to deliver an integrated range of new Web-enabled trading and investment products aimed at the private investor.
The agreement includes licences for TIBMercury Online, Reuters' order management and order routing product based on Tibco ActiveEnterprise platform. In addition, a global team of Reuters consultants will work with Credit Suisse in key financial centres to integrate Reuters technology with the bank's private banking operations.
The two organisations have been working together on this area of the bank's business for the last two years. Reuters has already provided order routing, management and integration functionality to create several new trading portals for Credit Suisse, beginning with the online brokerage service Youtrade, launched in April 1999.
Bruno Aschwanden, managing director senior advisor, Credit Suisse private banking says: "The TIBMercury Online Product allows us to further pursue the realisation of our online banking strategy and to provide better and faster services in the area of order execution and management to our clients."