ACT Financial Systems Ltd is making headway in eastern Europe with its recently announced agreements to develop financial software with the Moscow Institute of Physics & Technology, MPTI. The first product, due to be released in August, is an advanced analytical tool set to provide decision support for dealing room systems. ACT Financial Systems managing director Paul Newton says that two further products are in development. Under the agreement, ACT will specify products to be developed through its research organisation, the products will be coded in Moscow by the Institute, and ACT will install, market and distribute them through its Moscow-based distributors, LVS. The Moscow Institute of Physics & Technology has been appointed by the Russian State Committee for the Promotion of New Economic Structures. Professor Valery Irikov extended the invitation to Newton from which the current agreement evolved. ACT has been selling its banking, insurance and investment management packages direct in Hungary and Czechoslovakia.
