Reuters signs LBBW to direct trading tool; adds CMBS pricing to DataScope

Reuters signs LBBW to direct trading tool; adds CMBS pricing to DataScope

German bank Landesbank Baden-Wuerttemberg (LBBW) is deploying Reuters' direct dealing tool, Order Management for Exchange Execution (Romex), for use at 40 terminals across its sales, execution and proprietary trading divisions.

LBBW will install the system in several stages, starting in the fourth quarter this year.

The application was developed in partnership with Swedish trading and risk management technology vendor Orc Software and provides users of the Reuters 3000Xtra desktop with direct access to equity exchanges. LBBW will initially use Romex for trading on Xetra and Eurex.

Stephan Simon, head, equity trading, LBBW, says: "Romex enables us to trade equities and derivatives in one infrastructure. In addition, the automatic access to our customers and trading partners facilitates flexibility and cost efficiency."

The system can be used as a stand-alone application or integrated with existing applications. Reuters says the tool builds on the bank's use of its 3000 Xtra desktop product and risk management software Kondor+.

Separately, Reuters has added Commercial Mortgage Backed Securities (CMBS) pricing to its fixed income data service, DataScope. As part of the agreement, Reuters DataScope will use Standard & Poor's analytics and pricing tool, Conquest, to drive the evaluations process.

Kevin Bradshaw, global director enterprise information products, Reuters, says: "The addition of CMBS pricing to the Reuters DataScope product suite will increase investor flexibility by integrating all the analytic tools into one market solution."

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