Banking and security software specialist, Mondas PLC, announces that the Zurich Office of one of its existing global asset management clients has placed an order to implement Mondas' recently announced Radica CAPS 4.
The Zurich system will be linked to its London system to create what is believed to be the first multi-centre Corporate Actions solution using a common database. This follows on from the decision of the same company's London office in April 2005 to extend its licence capability and, although the contract value is relatively small, the directors of Mondas believe that it represents a significant breakthrough.
The client's London office is also upgrading to Radica CAPS 4, having successfully implemented Radica CAPS 3. The new system will provide a single instance of Radica CAPS, where both centres will share common event data. Legal entity filtering will ensure that each centre will only be able to access its own client lists and positions thus preserving and protecting each location's client confidentiality utilising "Chinese walls" embedded into the system.
Jarlath McGee, Chief Executive, said: "This is a highly significant development for Radica CAPS and clearly demonstrates that the Mondas system offers a truly global solution. It also demonstrates our client's commitment to Mondas and the belief that CAPS can service the needs of an organisation with international reach."