Rolfe & Nolan secures £1 million from global banks

The funding is for the development phase of project Merlin, a modular system for derivatives processing. Merlin will replace the company's existing RANsys and Risc back-office products. A suite of platform-independent components are being designed to integrate into existing processing environments.

Project Merlin was unveiled in April 2001 with the active participation of UBS Warburg, Deutsche Bank, Barclays and The Royal Bank of Scotland. In December 2001, Rolfe & Nolan said sponsors Deutsche Bank and UBS Warburg agreed to fund the development of the first two major functional modules in the Project Merlin software suite.

A spokeswoman for Rolfe & Nolan told RiskNews that UBS and Deutsche Bank had issued funding for the trade-commissioning module which will be launched in October 2002. She said the other banks were interested in supporting other modules, but would not disclose details about further funding at this time.

Rolfe & Nolan`s chief executive Bob Freeman, previously European managing director, took over from John Lodge as chief executive last September as part of an effort to boost confidence among its customers and shareholders.

Lodge resigned after failed attempts to increase the firm’s core business and bring in much-needed outside investment to fund project Merlin following a two-year plunge in the company’s share price.

  • LinkedIn  
  • Save this article
  • Print this page  

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: