Zenith Capital implements the first full scale cross asset trading platform in Sub Saharan Africa

28 January 2008

Zenith Capital Ltd, the investment banking subsidiary of Zenith Bank Plc, has raised the bar in African sales & trading by acquiring the Reuters Trading, Risk Management, Middle Office and Back of Office (front to back) suites. The London based Emerging Markets Banking Consultancy, Nex Rubica Advisory managed the project - selecting (from a list of over 30 global providers), implementing and assisting Zenith Capital with her investment banking framework and policy setup.

The Reuters solution was rolled out in September 2007 and integrated with Zenith Capital’s existing platform. Martin Orji, MD Nex-Rubica Group, says implementation of the Kondor suite in one of the foremost African banks is a milestone event for Investment Banking in the continent. “I am pleased to see the Nigerian Capital Markets make another significant leap. This platform and operational build in Zenith Capital will allow for an African institution to structure, price and issue financial instruments in the global OTC market and on local and foreign exchanges. With this the bank will now fulfil various MIFID, SOX and Basel II compliant rules”.

China Onyemelukwe, Managing Director/CEO, Zenith Capital, adds: “Our partnership with Nex-Rubica Advisory on this project I can summarise in a few words – a quick win. With this platform and framework we are poised to operate and collaborate with other global players - generating and sustaining significant growth in volumes of new and existing debt and equity products and at the same rationalising operating costs”.

Reuters' Kondor+ is a real-time position keeping system that allows users to manage deals and positions across all instruments. Kondor Value at Risk delivers high-end analysis and a global view on both market and credit risk. Kondor Trade Processing is a multi-entity system, designed to provide the back office with tools providing increased automation and effective risk management.

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