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Luxembourg – Reuters and Clearstream Services S.A have agreed to offer Kondor+ and Kondor Global Risk (KGR) trade and risk management solutions for easy access in Europe on an outsourced, rental basis.

The agreement will extend access to Kondor+ and KGR for European financial institutions via an outsourcing facility and an Application Service Provision (ASP) operated and supported by Clearstream and Reuters. Seven hundred European clients already use the Kondor system across 14,000 desktops.

It is the first time that Luxembourg based Clearstream has offered a vendor’s financial solution in this way following full accreditation from the Luxembourg ministry of finance as an operator of IT systems and communications. Using Kondor+ via ASP clients can access its technology on a fully hosted basis for use across their organizations.

Andrew White, Reuters global head of risk and trade management, said: “The Kondor+ suite is an important and widely used Trading and Risk management solution across Europe. I believe financial institutions will welcome the chance to get access to it on a fully hosted and managed basis through this agreement between Reuters and Clearstream.”

Yves Baguet, Managing Director Clearstream Services added: “This agreement is critical to Clearstream Services. It will enable customers to use Clearstream’s IT environment and services in a cost effective way to support their business goals with minimum limitations. The agreement demonstrates our commitment to bring solutions to the financial services industry.”