Didcot, England – 10 July 2001 - Crédit Agricole Indosuez (CAI), a leading player in the global forex market, has abandoned printed conversation from the Reuters dealing system. The London and Bahrain trading rooms of CAI have adopted Deal Browser technology from RCP Consultants, to capture, store and retrieve conversations electronically, ensuring greater efficiency of the whole deal life cycle.
Previously CAI used 18 printers around the dealing rooms to provide a record of conversations on the Reuters electronic dealing system. Some 2000 text conversations per day were printed and filed before being archived off-site 3-4 months later. Retrieval was slow, time consuming, error-prone and expensive, says CAI. The RCP Deal Browser system is expected to pay for itself within the first year.
"RCP has developed a system that guarantees 100% recording accuracy," said Cathie Long, System Project Manager for CAI’s Fixed Income Group in London. "We put the system through rigorous testing for over a month to prove its robustness and were pleased to switch off the printers in the knowledge the conversations were secure."
Deal Browser provides an online record of conversations captured at CAI’s London and Bahrain operations. Retrieval is straightforward, allowing for instant access to conversation by date/time and dealing position. The Deal Browser system provides auto archiving facilities to CD, allowing CAI to keep records offline – regulatory guidelines stipulate at least six years.
"Working with CAI has been an extremely rewarding experience" said Ada Harwood, RCP Sales and Marketing Manager. "The business model chosen by CAI from the start has been "the partnership approach," enabling CAI to make positive contributions to the product development and RCP to provide expertise on core banking issues."