The agreement is the first global deal for the latest generation Reuters 3000 Xtra (version 5.0) allowing Fortis to deploy a total 750 positions of the flagship desktop of which 450 positions will replace the Telerate desktop, Active8.
Fortis Merchant Banking will now use the Reuters Market Data System (RMDS) platform in Belgium, the Netherlands and Luxembourg, replacing the Telerate Trading Room System (TRS). The bank will extend the use of RMDS to offices globally making this the largest migration yet from Telerate systems and products onto their Reuters equivalent.
Christopher Hagman, Managing Director, Reuters Global Sales and Service Operations, said: “We are delighted that Fortis has decided to use Reuters products right across its enterprise. This deal embeds Reuters content, data, and real-time pricing into Fortis backed by our RMDS platform. It cements an already established relationship with Fortis adding in, for the first time, access to our transaction products.”
Antoine Meyers, Head of Project Management, Process & Support, Fortis, said: “We are pleased to be using the latest generation Reuters 3000 Xtra at Fortis backed by the benefits of the Reuters Market Data System. The scalability and openness of RMDS are vital requirements for Fortis to cope with aggressive business growth targets in all asset classes.”