Reuters back-office solution again ranked #1 wholesale banking system by International Banking Systems

14 March 2008

Reuters today announced that its back-office solution, Reuters Kondor+ Trade Processing, has retained its leadership position as the no.1 wholesale banking solution for the second successive year.

International Banking Systems (IBS) UK, in its Annual Sales League Table 2007, revealed on February 28, 2008 in London that Reuters Kondor+ Trade Processing has been ranked the no. 1 wholesale back-office banking solution for the second year in a row. The solution was also voted #2 across all other categories in terms of the number of new client wins for 2007. Reuters Kondor+ Trade Processing had a very successful year, with 25 new deals in 2007 – and Reuters expects to keep up the pace in 2008.

Reuters Kondor+ Trade Processing automates the trade process, providing full STP from front to back office and from deal capture to accounting. It includes tools for processing, delivery, confirmations, payments, reconciliation and accounting across all instruments. Reuters Kondor+ Trade Processing uses a single system sharing a common infrastructure and database: this provides smooth trade processing and assures high performance throughout the trade cycle. The event-driven nature of the system together with its powerful workflow manager makes for accurate handling of trades and gives a high level of flexibility.

IBS is one of the most definitive sources of news, research and analysis relating to banking operations and systems internationally. Their annual IBS Sales League Table is universally acknowledged to be the barometer for international core banking systems sales and trends globally.

Commenting on the ranking, Andrew White, Global Head of Reuters Trade and Risk Management said, “Reuters is delighted to be recognised again as the leader of back-office solutions for wholesale banking. We strive to exceed client expectations and this achievement demonstrates our commitment to empowering our clients to capitalise on a fast-paced and complex market”.

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