Mondas says the Zurich Office of Credit Suisse Asset Management (CSAM), an existing client in London, has placed an order to implement its Radica CAPS 4 corporate actions processing application. It will be linked to the system already installed in London.
Mondas says it believes the installation is “the first multi-centre corporate actions solution using a common database … although the contract value is relatively small, the directors of Mondas believe that it represents a significant breakthrough.”
CSAM’s London office is also upgrading to Radica CAPS 4, having successfully implemented Radica CAPS 3, so both offices will share a common set of corporate actions event data. However, legal entity filtering will ensure that each centre will only be able to access its own client lists and positions, so preserving client confidentiality.
“This is a highly significant development for Radica CAPS and clearly demonstrates that the Mondas system offers a truly global solution,” says Jarlath McGee, Chief Executive. “It also demonstrates our client’s commitment to Mondas and the belief that CAPS can service the needs of an organisation with international reach.”