installation of Reuters Kondor+ risk and trade management system at Korea First Bank (KFB), a major bank in Korea. KFB has become the first bank in Korea to have a fixed income risk management module that can handle Korean bonds.
Robert Cohen, Chief Executive Officer of KFB said: "The need for a quality
risk management system in today's banking environment cannot be underestimated. As we move to increasingly complicated financial products and attempt to secure greater trading volumes, the need to manage risk is essential. I was reassured when my staff selected Kondor+ as my experience of the system during previous roles has been entirely satisfactory. I am also happy that Kondor+ can be further developed to accommodate our future requirements."
Matthew Jeffs, Managing Director, Reuters Korea said: "We were grateful to have the opportunity to work with KFB and enjoyed the challenges involved in meeting the Bank's specific requirements for a customized Korean bond module. This involved considerable development within tight timeframes, which we were successful in meeting through the extremely professional contribution made by both KFB and Reuters staff. Reuters Kondor+ is, by far, the leading risk and trade management system in Korea and we intend to maintain this number one position by evolving with market requirements and in collaboration with our clients."
Kondor+ is a real-time position keeping system that offers a sophisticated and flexible means of capturing deals and managing risk. The application provides a wide range of tools and functions that give up-to-the-second information and analytics. With Reuters Kondor+, users make informed decisions in managing the financial exposure of a trading room's activities. Risk systems are now a global requirement for financial institutions.