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.
“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,” says Chng Sok Hui, Managing Director and Head of Group Risk Management at DBS.
“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,” says Peter Brown, Managing Director of Enterprise Services, Technology and Operations at DBS.
“This successful project has given DBS a valuable solution to a difficult problem that is shared by many trading rooms,” says Andy White, Global Head of Reuters Trade and Risk Management Solutions. “It shows the quality of our core product and our ability to deliver scaleable, global solutions supported by local risk experts.”
“We are delighted to continue our partnership with a thought leader in Asian banking such as DBS,” says Alex Hungate, Reuters Managing Director Asia. “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.”