Reuters signs two Gulf clients for risk management tool

Reuters has signed two deals in Dubai and Qatar for the use of its risk management platform, Kondor. The Department of Finance (DoF) in Dubai and the Commercial Bank of Qatar (CBQ) have purchased the trade and risk management product suite.

Both clients have opted for the complete product offering, which comprises Kondor+ for the front office and Kondor Global risk for the middle office. For the back office, the DoF will use Kondor Trade Processing, while CBQ has opted for Kondor+ Trade Processing.Dubai’s government will use the Reuters platform to automate and streamline its treasury operations. CBQ is implementing the Kondor suite as part of its attempts to develop more innovative derivatives instruments to meet strong customer demand for these products.Ashley Free, head of treasury sales at CBQ, says: “Kondor+ will give us the edge we need to decisively enhance our treasury operations. We have ambitious plans to expand in this area and we need a system that will grow with us as we bring these to fruition.”

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