SimCorp has received two significant contracts for its TMS2000, investment management system. The license agreements, for a total of 500 users, have been received from Nordea and the Asset Management Division of Deutsche Bank.
Nordea’s license agreement for SimCorp’s TMS2000 amounts to some 300 users in its offices in the Nordic region and other European locations. It represents one of SimCorp’s largest single orders ever. The agreed TMS2000 solution will establish a core system that will be integrated with Nordea’s own business
and customer applications. With its straight-through processing facilities, the TMS2000 installation will combine and automate a number of front, middle and back office activities. Nordea is one the largest financial groups in the Nordic region with assets under management in excess of EUR 90 billion.
The Asset Management Division of Deutsche Bank has decided to step-up its involvement with SimCorp by exercising its option to acquire a further 200 user licenses. These are in addition to the 200 TMS2000 licenses that DWS, Deutsche Bank's mutual fund company in Frankfurt, contracted for a year ago. Some of the new user licenses will be allocated to the Division's Italian asset management operation in Milan, where TMS2000 will be implemented as an integrated investment management solution with full support of front and middle office activities. In addition, selected TMS2000 settlement functionality will be interfaced with the existing back office facilities at the Italian site.