Bank Danamon is 51 percent owned by a consortium comprising Deutsche Bank and the Singapore government's investment arm, Temasek Holdings.
RMDS is a strategic platform on which PT Bank Danamon can manage financial content in real-time across trading environments. The bank can build its market data services and reduce its costs whilst improving performance. In addition to serving Reuters 3000 Xtra, RMDS can also feed a number of business applications such as risk management systems and trading platforms for Bank Danamon.
Lam Kun Kin, Business Head Treasury and Capital Market, Bank Danamon commented: "Bank Danamon depends on accurate and timely information to make key decisions and service our wide spread operation. Reuters market data system will help us manage this intelligence gathering. RMDS can integrate, distribute, and add value to news, information and data for our end users. Using Dealing 3000 means producing and routing dealing tickets will be automated with our new system in the future. This reduces the possibility for error and the service helps us to achieve straight through processing as Dealing 3000 integrates with back office systems."
Samir Shah, Head of Sales, South and South Asia, Reuters said: "Bank Danamon is leading the way to drive towards straight-through processing as its vision is to contain or reduce the total cost of ownership, to easily display and integrate new capabilities and to handle future data and trading volumes. It is set to meet the challenges of new regulatory requirements and growth."
Reuters Dealing 3000 is the market-leading, peer-to-peer conversational trading application. There is a community of approximately 19,000 users of Dealing 3000 in more than 6,000 organisations in 120 countries having over 1.5 million conversations a day, which represents the largest most established FX and money market community in the world.