Korea's Woori Bank signs with Reuters for Kondor+

Korea's Woori Bank signs with Reuters for Kondor+

South Korea's Woori Bank has signed an agreement to use Reuters' Kondor+ as its risk management tool for derivatives and bond trading.

Kondor+ comprises of a range of tools that provide real-time information and analytics. The package handles pricing, capture and real-time position keeping for all asset classes and integrates with both Reuters and third-party dealing and order management systems.

Matthew Jeffs, Managing Director, Reuters Korea says the vendor has made enhancements to its risk systems and their ability to handle cross-asset derivatives transactions.

"Woori Bank with a customer base of 13 million retail customers, will benefit from multiple asset support, flexible pricing and deal management, together with desktop analytics and trade automation capabilities," says Jeffs.

ChongYeob Park, general manager, investment banking unit, Woori Bank, says Kondor+ will allow the bank "to better identify trading opportunities and manage all associated risks in accordance with regulatory requirements."

Reuters says demand for its Kondor+ risk management system is increasing in the region. The system is also in use at Korea First Bank.

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