DEXIA BANKA SLOVAKIA SELECTS REUTERS KONDOR+

Prague – Reuters, the global information provider, has agreed a deal with Dexia Banka Slovakia (Dexia SK) to provide Kondor+, its real-time position keeping system. Dexia SK, based in northern Slovakia, plans to use Kondor+ to manage deals and positions on all instruments and asset classes.

Marek Benčat, Deputy Director of Treasury Department, Dexia SK, said: "Like all banks Dexia SK must comply with new regulations and is under increasing pressure to ensure transparent corporate reporting. To ensure that we could meet these new demands whilst ensuring that we deliver the service required by our customers, we needed a sophisticated risk system to handle a wide range of transactions. Reuters Kondor+ effectively manages all these requirements, providing up to the second information whilst minimising administration."

Robert Supel, Country Manager, Reuters Czech and Slovak Republics, said: "Dexia Banka Slovakia has made impressive, dynamic reforms to improve efficiencies and enhance their reputation as a competitive and leading player. We are pleased that Dexia SK has chosen Reuters risk tools to provide the real-time information and analytics necessary to enable them to continue this growth whilst managing their risks more effectively."

Kondor+ provides the pricing, capturing and processing of any type of instrument. With its new Open Trade facility it offers a unique and flexible way of covering all deal types. Kondor Open Trade has a builder and API module to allow for designing tailor products, accessing proprietary products and integrating third party financial libraries, such as NumeriX. Kondor + also provides a full market standard credit derivatives model.

Today Reuters has over 11,000 users of its risk systems worldwide at approximately 500 institutions, ranging from single site installations to global roll-outs at top-tier banks.

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