The New South Wales Treasury Corporation (TCorp) has bought the Kondor+ trade management system from Reuters.
The central financing authority for the New South Wales public sector is replacing its existing systems with Kondor+ to provide deal capture, risk management and automated processing across all asset classes (including complex product structures) but especially to support its growing activities in the derivatives markets. It is integrated with Reuters Kondor Global Risk for pre-trade credit limit management.
The purchase follows a tender selection process.
“Reuters demonstrated they will provide the strongest solution for TCorp’s requirements both in terms of functional coverage and thanks to its unique way of integrating with Reuters enterprise data,” says TCorp’s Chief Executive, Stephen Knight “This comes together with a strong local team with specific market knowledge and the fact that the latest version of Kondor+ Back Office is customised to suit the Australian bond market.”