Citymax Integrated Information Systems Ltd, established in 1984 as a spin-off from stockbrokers Buckmaster & Moore, has opened its City of London headquarters and announced new contracts with two financial groups. The company also revealed that Credit Suisse has agreed in principle to acquire the 51% stake currently held by Credit Suisse Buckmaster & Moore. Citymax is best known for CISS, the Citymax Integrated Securities System, aimed at the securities and investment banking sector. The Midland Bank was one of Citymax’s first customers, and a Midland subsidiary, Greenwell Montagu Stockbrokers and Smith Keen Cutler, have now installed a system costing UKP780,000. The new system deals with front office, back office, management and administrative functions, and runs on a Digital VAX 8810 supporting 130 terminals distributed in London and Birmingham. The second contract announced by Citymax is with British and Commonwealth Merchant Bank Group Ltd. The terms of the contract are still to be finalised but it is in the region of UKP2m, and it will link 200 users in the UK mainland and the Channel Islands. When implemented, the system will use VAX computers in VAXcluster configuration to provide processing resources to British & Commonwealth’s private client stockbroking firms. In both contracts, Citymax is displacing NMW Computers Plc, as well as Quotient Plc in the case Greenwell Montague. As regards future expansion, the company claims that the modular design of its systems allows it to attack the different needs of the continental markets. It is currently working with the French bank, Credit Lyonnaise, parent company of CL-Alexanders Laing Cruickshank. Citymax believes the alliance with Credit Suisse will strengthen its position on the Continent, and says it may establish a French subsidiary when the time is right.
