30th Jul 2012 07:00
30 July 2012
Lombard Risk Management plc
("Lombard Risk" or the "Company")
Three Contract wins
Lombard Risk Management plc (LSE: LRM), a leading global provider of integrated collateral management, liquidity and regulatory reporting and compliance solutions for the financial services industry, is pleased to announce that the Company has secured three significant new contract wins.
The first of these contracts is the licence and implementation of the Company's COLLINE® collateral management software to a major international fund management group headquartered in the United States. The contract includes COLLINE®'s modules for OTC collateral management, Clearing and Management Information Reporting, and has a value in the first year of approximately £500,000.
Lombard Risk also announces that it has concluded two contracts for the European Banking Authority's COREP and other related reporting requirements, bringing to a total of thirteen the number of COREP contracts concluded so far, of which nine have been concluded since the start of the Company's financial year on 1 April.
John Wisbey, CEO of Lombard Risk, commented: "We are delighted to have been able to add this prestigious U.S. fund management client to our very high quality client list for COLLINE®.
As for other recent contract wins the addition of Clearing and our REPORTER MIS product to COLLINE® was a major factor in winning this deal and we believe these modules together with those for Repo and Securities Lending will allow us to generate useful additional revenue from other clients in the coming year. We are also very pleased with the continued progress of the COREP program. As stated at the AGM on 13th July, the contract sizes achieved so far imply that the COREP and related EBA revenues for this programme should generate higher revenue for the Company than the Liquidity programme of 2010".
For further information, please contact:
Lombard Risk Management plc Tel: 020 7593 6700
John Wisbey, CEO [email protected]
Paul Tuson, CFO [email protected]
Charles Stanley Securities Tel: 020 7149 6000
Nominated Adviser and Broker
Russell Cook / Carl Holmes
Newgate Threadneedle Tel: 020 7653 9850
Graham Herring / Terry Garrett / Robyn McConnachie
Editors Notes:
COLLINE® is a state-of-the-art, web-based solution designed by experienced business practitioners for end-to-end, cross-product (OTC derivatives, Repos and Securities Borrowing and Lending) collateral management - designed to assist firms in handling the increase in collateralised trades and meeting new regulatory demands. It provides a consolidated solution for mitigating credit risk while satisfying the growing demand for multiple/global entities, cross-product margining, Central Counterparty Clearing (CCP), optimisation, master netting, MIS reporting, dispute management and electronic messaging.
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Lombard Risk Management