Accounting and Financial Software
Reuters Implements Enhanced Risk Management Solution at DBS Bank
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SINGAPORE, Sept. 4 / Reuters (NASDAQ:RTRSY) has implemented an enhanced version of Reuters Kondor Global Risk (KGR) at DBS Group, the largest bank in Southeast Asia. KGR v 3.1 will provide DBS with a sophisticated tool for managing market risk by integrating and sharing the pricing models and market rates used by the bank's traders, back office and risk managers across the DBS Group.
As a regional leader in trading and developing complex derivative products in Asia, DBS needed a scaleable full re-pricing risk architecture which can be easily extended as new products are added to the trading platform and volumes expand.
Kondor Global Risk version 3.1 was developed by Reuters, working in close co-operation with DBS, to meet demanding scalability and consistency requirements. It is now available to other Reuters clients who require consistent pricing and market rates across their enterprise.
Chng Sok Hui, Managing Director and Head of Group Risk Management at DBS, said: "This latest version of Reuters Kondor Global Risk will improve our time-to-market as all new financial instruments can be rolled out simultaneously in the front office and the risk systems without the need for a double build of pricing models, instrument descriptions or rate feeds."
Peter Brown, Managing Director of Enterprise Services, Technology and Operations at DBS, said: "The scaleable architecture of Kondor Global Risk v 3.1 ensures that, as our regional treasury business grows, our risk management capability will scale commensurately without any duplication in development effort."
Andy White, Global Head of Reuters Trade and Risk Management Solutions, said: "This successful project has given DBS a valuable solution to a difficult problem that is shared by many trading rooms. It shows the quality of our core product and our ability to deliver scaleable, global solutions supported by local risk experts."
Alex Hungate, Reuters Managing Director Asia, said: "We are delighted to continue our partnership with a thought leader in Asian banking such as DBS. DBS brings significant expertise to a growing regional market where managing risk position keeping between front and back offices in order to optimize performance is a key differentiator for top performing Asian banks."
About Reuters
Reuters is the world's largest international news and financial information source, reaching over 1 billion people a day. Known for its speed, accuracy and independence, Reuters content powers newsrooms and financial markets around the world. Reuters distributes its text, data, pictures and video to professionals and direct to consumers via online and digital services. Founded in 1851, Reuters Group has 15,300 employees in 89 countries and had annual revenues of GBP2.4 billion/$4.4 billion in 2005. For more information and the latest news, visit reuters.com .
About DBS Bank
Headquartered in Singapore, DBS is one of the largest financial services groups in Asia with operations in 15 markets. The largest bank in Singapore and the fifth largest banking group in Hong Kong as measured by assets, DBS' "AA-" and "Aa2" credit ratings are among the highest in the Asia-Pacific region. DBS has leading positions in consumer banking, treasury and markets, asset management, securities brokerage, equity and debt fund raising. Beyond the anchor markets of Singapore and Hong Kong, DBS serves corporate, institutional and retail customers through its operations in China, India, Indonesia, Malaysia, Thailand and The Philippines. More information about DBS Group Holdings and DBS Bank can be obtained from our website www.dbs.com .
About Reuters Trade and Risk Management
Reuters has more than 20 years' experience helping customers successfully manage and control risk. Relied upon by 50% of the world's top 25 financial institutions, Kondor solutions are installed at more than 700 customer sites providing critical services for 14,000 end users in more than 60 countries worldwide -- these customers are supported by more than 700 Risk professionals within the Reuters Risk business.
The Reuters Kondor suite of trade and risk management solutions addresses the core risk issues and meets the requirements of traders, heads of desk, risk and operations managers. Front to back desk-level technology through Kondor+ and Kondor Trade Processing provides real-time pricing, position keeping, trade processing and reporting features including messaging and the generation of accounting entries. Enterprise-wide risk management through Kondor Global Risk and Kondor Value at Risk supports the analysis of credit and market risk exposures at group or firm-wide level. Reuters acquired Palo Alto based Application Networks in June 2006 with the aim of integrating its JRisk product with Kondor+ to create a best-in-class risk system.
Contacts
Steve Clarke
Reuters Media Relations
Tel: +44-207-542-6865
Mobile: +44-7990-566865
Email: steve.clarke@reuters.com
Liam Hwee Tay
Head of Corporate Communications, Reuters Asia
Tel: +65-6870-3028
Mobile +65-9819-3895
Email: liam.tay@reuters.com
Ronald Chong
VP Group Strategic Marketing and Comms, DBS Bank
Tel: +65-6878-5447
Email: ronaldchong@dbs.com
Source: Reuters
CONTACT: Steve Clarke, +44-207-542-6865, or steve.clarke@reuters.com , or mobile,+44-7990-566865, Liam Hwee Tay, +65-6870-3028, or fax, +65-9819-3895, or liam.tay@reuters.com , both of Reuters; Ronald Chong, +65-6878-5447, or ronaldchong@dbs.com , of DBS Bank
Web site: http://reuters.com/
http://www.dbs.com/
