4th Oct 2007 12:30
LogicaCMG, a major international force in IT and businessservices, has won a contract to supply LogicaCMG CLS Manager (LCM) toDanske Bank A/S to help the bank expand its third-party ContinuousLinked Settlement (CLS) capability for corporate and institutionalclients. £ Danske Bank A/S is the largest bank in Denmark and a leadingplayer in the Scandinavian financial markets. The Danske Bank Groupoffers a wide range of financial services, including insurance,mortgage finance, asset management, brokerage, real estate, andleasing services. It also has a large number of internationalcorporate clients, particularly in the northern European markets. £ CLS is the world's largest system for the settlement of foreignexchange transactions finally and irrevocably. CLS eliminatessettlement risk, improves liquidity management, reduces operationalbanking costs and improves operational efficiency and effectiveness. £ LogicaCMG CLS Manager (LCM) supports CLS member banks and theirthird parties in the control, reconciliation and automation of theirCLS business. £ LCM provides the bank with a thin client, browser based solutionthat can be easily deployed in third parties around the globe tosupport their CLS processing. LCM is already in use in a number of CLSsettlement banks with a truly global presence. Danske Bank A/S choseLCM for its ease of deployment and rich functionality and because ofits highly configurable front end, which can be easily changed in linewith their corporate style. £ Since the launch of the CLS system in 2002, the services beingoffered through CLS continue to expand with the introduction of newinstruments such as Non Deliverable Forwards and Option Premiums.These services, together with ever-increasing volumes of trades beingsettled through CLS, mean that the value of shared maintenance anddevelopment has never been greater. £ LogicaCMG continues to expand and enhance the LCM product toensure that its clients are able to take advantage of these newservices as soon as they become available. £ Tim Brew, sales director of LogicaCMG's Global Products Unit, said"We are delighted that Danske Bank has chosen LCM as the platform toextend and grow its CLS business. Clearly the combination ofLogicaCMG's product solutions and CLS experience together with ourproven deployment strategy will provide an excellent low-risk, highlyfunctional solution for the bank." £ About LogicaCMG £ LogicaCMG is a major international force in IT and businessservices. It employs around 40,000 people across 41 countries.LogicaCMG's focus is on enabling its customers to build and maintainleadership positions using LogicaCMG's deep industry knowledge and itstrack record for successful delivery. The company provides businessconsulting, systems integration and IT and business processoutsourcing across diverse markets including telecoms and media,financial services, energy and utilities, industry, distribution andtransport and the public sector. Headquartered in Europe, LogicaCMG islisted on both the London Stock Exchange and Euronext (Amsterdam)(LSE: LOG; Euronext:LOG) and traded on the Xternal List of the NordicExchange in Stockholm. More information is available atwww.logicacmg.com Copyright Business Wire 2007Related Shares:
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