Dubai Bank has signed an agreement with global information company Reuters to provide a real-time trading room that delivers treasury products and risk management solutions to its customers. Dubai Bank has chosen a combination of Reuters Kondor+, Kondor Trade Processing and Kondor Global Limits technology to provide integrated front to back office risk management, a complete treasury solution which offers a means of identifying, measuring and managing financial risk.
The Reuters technology also supports the pricing and processing of a wide range of financial market products. This will help Dubai Bank’s treasury team make informed decisions whilst managing the financial exposure of the trading room’s activities as well as advising on the associated risks to the customer.
More than 500 financial institutions around the world—including 20 banks in the Middle East region—employ Reuters Trade and Risk Management products to help manage their markets’ risks. Reuters operates 16 offices in the region to support its offering.
Dubai Bank is a fully owned subsidiary of real estate major EMAAR Properties. Launched in September 2002, it is focused on retail and commercial banking.
Reuters provides information tailored for professionals in the financial services, media and corporate markets. Reuters has 16,000 staff in 94 countries, including some 2,400 editorial staff in 197 bureaus serving approximately 130 countries, making Reuters the world’s largest international multimedia news agency. In 2002, the Reuters Group had revenues of £3.6 billion. — (menareport.com)
© 2003 Mena Report (www.menareport.com )