AUSTRIA’S INVESTKREDIT BANK SELECTS REUTERS INTEGRATED TRADE AND RISK MANAGEMENT SOLUTION

Vienna - Reuters (LSE: RTR), the global information company, today announced that Investkredit Bank AG, one of Austria’s leading banks, has signed an agreement with Reuters to provide its well-proven Kondor product suite to handle the bank’s real-time trade and risk management requirements.

Investkredit, the Specialist Banking Group in Central Europe, has chosen Reuters Kondor integrated front to back office solution made up of the specialist modules of Kondor+ and Kondor Global Limits, for the trading room position keeping and risk analysis, and Kondor Trade Processing for the related back office operations. Kondor front to back solution will provide seamless, straight through processing and sophisticated workflow management of the bank’s treasury activities. It will also help the bank to enhance and accelerate their trading activities in the derivatives area.

Stephane Mazzoli, Senior Company Officer, Reuters, Austria, comments, "Reuters risk management practice has a good number of clients in Austria, a testament to the strength of Reuters track record in this area. With the addition of Investkredit Bank as a client we are able to demonstrate that Reuters is enhancing the business propositions of key banks while increasing efficiencies for our clients."

Manfred Stagl, Head of Treasury, Investkredit Bank AG, comments, "The addition of the Kondor front to back office solution to our treasury processes will provide the essential control we need to support our business expansion. Reuters expertise in the treasury arena and in particular derivatives processing, was a crucial aspect for us when selecting them as our risk management software provider. "

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