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August 10, 1988

JAPANESE RESELLERS FLOCK TO LONDON FOR FINANCIAL, SECURITIES SOFTWARE PACKAGES

By CBR Staff Writer

The software experience built up in the UK in the wake of the October 1986 Big Bang in the City of London is beginning to decrease a little the UK trade deficit with Japan as firms in Tokyo flock to London to pick up whatever may prove useful in the rapidly-developing financial and securities field back home, reports our Tokyo correspondent Anita Byrnes. C Itoh Data Systems, a software subsidiary of C Itoh & Co, has signed an exclusive distributorship agreement with Raytheon Co’s UK software house Data Logic Ltd, for its Dealing Room System. The system is designed to support foreign exchange, bond and stock dealers, and Itoh will be marketing it to Japanese banks, securities firms and financial institutions. The system supports both video and remote digital feeds, and a split screen facility to enable several news sources to be viewed at once. Itoh was taken by the fact that Data Logic has 75% of UK dealing system market, and 1,973 terminals installed in 26 companies worldwide. The cost per terminal in Japan will be between $23,000 and $70,000, and Itoh hopes for sales of $15m in first year. Another software company Intelligent Wave Ltd of Tokyo, has gone to Logica Plc for its Fastrade investment management system designed for institutional investors. In Japan, Fastrade will sell for 100m yen – that’s $757,500 – once it has been converted to Japanese, an effort expected to be completed later this year. Fastrade runs on all Stratus Computer Inc variants including the IBM System 88, and Intelligent Wave is hoping to get 30 of the systems away over a five-year period. And Toppan Moore Systems has signed an agreement with BIS Applied Systems Ltd of London to become the distributor for BIS’s FundMaster investment management system. Priced at the equivalent of about $140,000 in Japan, the program includes multi-currency investment management, including dealing, interest/dividends, capital movements, evaluation and management reporting. BIS is now owned by Nynex Corp, the New York and New England phone company, which bought it in December 1986 (CI No 589).

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