KAS Bank contracts for Reuters' Kondor+ and RTP

KAS Bank contracts for Reuters' Kondor+ and RTP

KAS Bank has signed an agreement to use Reuters' Kondor+ and RTP (Reuters Trade Processing) as an integrated solution for deal capture, position keeping and risk management across a wide range of products including foreign exchange, money market and derivatives.

The combined solution provides front office trade capture and risk management as well as back office trade processing. Reuters' says that the integration of the two products can be adapted to suit specific client needs and bank workflow procedures.

The system at KAS Bank is scheduled to go live in early Q4 2003 and will integrate with all of the bank's internal systems.

John van Scheijndel, treasurer, KAS Bank says: "We have selected Reuters Kondor+ and RTP solution as we wanted a best of breed integrated risk and trade management system that will allow us to expand our current product range, provide better risk management and increase efficiency throughout our front and back offices."

Mike Whitaker, global head of risk at Reuters, says the industry is pushing for more integration between front and back office. "The deal with KAS Bank represents just one of a number of contracts that Reuters has signed with banks across Europe and Asia that are keen to implement our Kondor+ and RTP solution."

Seperately, Reuters has signed a three-year contract with CNBC Asia for the supply of its latest 3000 Xtra terminals. As part of the agreement, Reuters will supply broadcast television news, real-time news and financial data to CNBC news bureaus throughout the region. CNBC will also be able to incorporate Reuters newest high-speed real-time data feed (RDF) into its dynamic ticker.

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