REUTERS CHOSEN BY SIX BANKS IN CHINA TO PROVIDE TRADE AND RISK MANAGEMENT SERVICE

Beijing– Reuters (LSE: RTR, NASDAQ: RTRSY), today announced that six banks in China have selected Reuters to provide them with the well-proven Kondor product suite to handle their real-time trade and risk management requirements.

They are Bank of China, Ningbo Commercial Bank, China Minsheng Banking Corporation, Bank of Communications, China Development Bank and Export-Import Bank of China.

Bank of China, a long time leading Reuters Kondor+ client, has chosen the Reuters Kondor Open Trade module to pursue growth in structured derivatives and complex products. This module will allow Bank of China to incorporate financial libraries from NumeriX – enabling the bank to price, capture and process all types of complex financial instruments.

Ningbo Commercial Bank signed their contract with Reuters for Kondor + and Reuters Market Data System (RMDS) ahead of its application for a China Banking Regulatory Commission (CBRC) derivatives license. Reuters solution will allow the bank to reduce costs and risks by consolidating onto a single system.

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