09 Sep 2008
RZB Selects Thomson Reuters to Support Enhanced Market Risk Control and Value at Risk Reporting
Vienna – Thomson Reuters today announced it has been selected by Raiffeisen Zentralbank AG (RZB) to provide its Enterprise Platform technology to support an enhanced market risk control and value at risk reporting system across the RZB Group. RZB conducted a thorough competitive review and selected Thomson Reuters for its advanced data orchestration capabilities which give RZB the flexibility to integrate data seamlessly within its own and third party systems.
As a result of business expansion, RZB is establishing a new market risk infrastructure which will provide the bank with the ability to hedge its portfolios more effectively, enabling substantial savings in hedging costs.
RZB’s enhanced market risk management system will be supported by the complete Thomson Reuters Enterprise Platform including: Reuters Reference Data System (RRDS) which will acquire, cleanse and store market data, along with derived market data and risk factors; Reuters Enterprise Integration Engine (REIE) which will provide data orchestration between the Thomson Reuters components and RZB developed components and third party systems, and will also integrate real-time data seamlessly from the Reuters Market Data System (RMDS). The system enables the holistic management of both real-time and non-real-time market data in a common data model, along with powerful data management capabilities.
Alexander Tsorlinis, Head of Market Risk Management RZB, said: “We chose Thomson Reuters Enterprise Platform because it fits in with our component based approach to build up a highly flexible market risk management system.”
Jon Robson, President of Enterprise, Thomson Reuters, said: "We are delighted that RZB has chosen the Thomson Reuters Enterprise Platform as its data management solution. Recent market events have placed enterprise risk at the top of the business agenda for the industry, and data management is a key component in solving these needs. Forward looking firms recognize the requirement to find smart ways to ensure that clean and consistent views of data are applied across all risk systems. This agreement provides RZB with a flexible, enterprise-class data management and orchestration solution that will significantly reduce the risk and cost of integrating data into their important new market risk infrastructure."
About RZB
Raiffeisen Zentralbank Österreich AG (RZB) is the central institution of the Austrian Raiffeisen Banking Group, the country's largest banking group. It is a leading corporate and investment bank in Austria and also considers Central and Eastern Europe (CEE) as its home market. RZB is the only Austrian bank with a global network of business units reaching all important finance centres around the globe. It is also present in Asia via its branches and representative offices.
Via listed subsidiary Raiffeisen International Bank-Holding AG, RZB operates one of the largest banking networks in CEE. 17 markets are covered by subsidiary banks, leasing companies and a range of other financial services providers. Over 14,4 million customers are served in more than 3,000 business outlets.
For further information please contact Andreas Ecker-Nakamura (+43-1-71 707-2222, andreas.ecker@rzb.at) or Kathrin Polster (+43-1-71 707-1753, kathrin.polster@rzb.at).
http://www.rzb.at, http://www.ri.co.at
About Thomson Reuters
Thomson Reuters is the world’s leading source of intelligent information for businesses and professionals. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial, legal, tax and accounting, scientific, healthcare and media markets, powered by the world’s most trusted news organization. With headquarters in New York and major operations in London and Eagan, Minnesota, Thomson Reuters employs more than 50,000 people in 93 countries. Thomson Reuters shares are listed on the New York Stock Exchange (NYSE: TRI); Toronto Stock Exchange (TSX: TRI); London Stock Exchange (LSE: TRIL); and Nasdaq (NASDAQ: TRIN). For more information, go to www.thomsonreuters.com.
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