Micrognosis, the Control Data Corp financial systems subsidary, has signed up seven Japanese financial institutions in the City of London for its digital and video trading system. Together the various contracts are worth $6.5m. The institutions are London branches of Japanese banks and brokerage houses – Nissan Finance International, Mitsui Taiyo Kobe Bank, Taiyo Kobe International, Norinchukin International, Wako International Europe, Industrial Bank of Japan and Okasan International. The deals follow the installation of Micrognosis’ trading system at the Mitsubishi Bank in Japan in February, and the setting up last November of a Development Centre in Sydney with a priority to develop the Japanese market. Micrognosis uses a variety of hardware for its systems – US installations have mixed IBM and DEC machines. The largest London contract, with the Mitsui Taiyo Kobe bank, uses Sun Microsystems’ 386i Unix machines. Chris Manderson, Micrognosis’ UK general manager says that although Japanese banks have been particular targets he is also keen to see Micrognosis’ business with European institutions expand – last month it announced an agreement with the US institution, Morgan Guaranty Trust to equip its London offices, the system will go live at the end of the year. However Manderson agreed that Japanese institutions over recent years at least seem to have put a greater emphasis on keeping abreast of the latest technology and this announcement confirms the trend.
