Press Release, 21st June 2001
Lombard Risk Systems Ltd and City Networks Ltd today announced a marketing and software integration agreement. This will enable Lombard Risk’s trading and risk management system, Oberon, to integrate seamlessly with City Networks’ suite of back office products.
The integrated product set delivers a powerful straight-through-processing solution for Fixed Income, Foreign Exchange, Money Market and Interest Rate Derivatives. In addition it will provide connectivity to the S.W.I.F.T network. This alliance brings together two companies who have long and successful track records of developing software for the financial markets.
Lombard Risk Systems Ltd., part of the Lombard Risk Management group, is a leading provider of trading and risk management systems. The Lombard Risk Management group does business with around 60 of the world’s top 100 banks. Lombard Risk has been supplying trading systems for over 13 years and its Oberon trading system is renowned for its ease-of-use and high performance in the dealing room.
City Networks Ltd has been providing leading-edge software solutions to the Treasury, Securities and Derivatives markets since 1986. Its established product range supplies the latest in transaction confirmation matching, reconciliation and exception management software to banks, brokers and corporates.
City Networks’ products and services are used by more than 500 international financial organisations across 40 countries, with over 1,900 systems installed. City Networks has offices in London, New York, Singapore, Hong Kong, Sydney and Tokyo. All products are designed to complement banking trends such as Global or Regional Consolidation, Straight Through Processing, Risk Management, Central Clearing and XML standards.
Christopher Rose, CEO of the Trading Systems Division at Lombard Risk Systems, comments:
“We are delighted to be working with City Networks, whose back office systems are so well respected. The focus of our systems has always been on the front and middle office so there is clearly a great deal of synergy between City Networks’ product set and our own. The integration of our products will enable us to deliver considerable business benefits to both existing and new customers”.
Nick Perry, Manager of New Business Development at City Networks Ltd, reinforced Christopher Rose’s comments saying,
“Lombard Risk Systems’ customers will reap the benefits of a single product integration for City Networks applications and SWIFT connectivity. Oberon users will receive the operational benefits in the derivatives sector as traditionally provided by City Networks to the treasury market.”