Yesterday, Daiwa Securities SMBC Europe, a subsidiary of Daiwa Securities SMBC Co., an investment banking joint venture 60%-owned by Daiwa Securities Group and 40%-owned by Sumitomo Mitsui Financial Group, signed an agreement with ORIMOS to use its SONARIS/Bonds system for a minimum of four further years. The system was originally introduced to Daiwa's fixed income desks in 2003.
SONARIS/Bonds is an off-the-shelf technology and allows implementation with existing legacy systems, providing solutions for the fixed income market.
"SONARIS/Bonds has proven to be the pricing engine we had expected, capable of handling our increasing volumes," says Graeme Muirhead, managing director, technology division, Daiwa. "The product's flexibility to integrate with our internal systems and a future-proof architecture to cover additional instruments and markets have convinced us to further invest in our partnership with ORIMOS," he continues.