Lombard Risk Management plc (LSE: LRM) ("Lombard Risk"), a leading provider of integrated collateral management and liquidity, regulatory and MIS reporting solutions for the financial services industry, is pleased to announce that it has signed three contracts this month with new clients for its COLLINE®collateral management software. In addition, the Company has signed an extension to its existing COLLINE®contract with a German bank to include Central Counterparty Clearing ("CCP") functionality.
The three new clients are a leading custodian bank in the United States, Bank für Arbeit und Wirtschaft AG in Austria ("BAWAG") and a leading Swedish financial institution. The contract extension is with Dekabank in Germany. The four deals will bring combined estimated first year revenues of £1.1million.
John Wisbey, CEO of Lombard Risk, commented: "We are delighted to have won the additional contracts for COLLIN®E with these prestigious firms. The addition of Repo and Securities Lending modules to COLLINE®was a major factor in winning one of these deals and we believe these modules will allow us to generate useful additional revenue in the coming year. We expect to be able to name the U.S. custodian bank once it is live with COLLINE®. We are also delighted to have extended our reach in the German-speaking world and in Scandinavia. We now have three of the top Austrian banks and three of the top German banks as clients for COLLINE®."
COLLINE® is a state-of-the-art, web-based solution designed by experienced business practitioners for end-to-end, cross-product (OTC derivatives, Repos and Securities Borrowing and Lending) collateral management - designed to assist firms in handling the increase in collateralised trades and meeting new regulatory demands. It provides a consolidated solution for mitigating credit risk while satisfying the growing demand for multiple/global entities, cross-product margining, Central Counterparty Clearing (CCP), optimisation, master netting, MIS reporting, dispute management and electronic messaging.