10th Oct 2013 07:23
LONDON (Alliance News) - Lombard Risk Management Thursday said it is in the final stages of concluding a major contract with a large European bank, following media speculation regarding such a possibility.
Lombard, a provider of collateral management, liquidity and regulatory and compliance solution to the financial services industry, said it would license its COLLINE collateral product to a large European bank under the contract.
"This will represent an important contract win for the company which will support management's confidence that the Company will meet market forecasts for the current year, as well as generating further recurring revenues beyond," Lombard said in a statement.
The contract is expected to conclude by the end of December.
Lombard said the bank has already committed preparatory work and expense to the project.
The risk management provider is set to report its half-year results on October 15.
Lombard shares were Thursday quoted at 12.85 pence, up 0.6 pence, or 4.9%.
By Samuel Agini; [email protected]; @samuelagini
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