Emirates Bank already uses the Reuters treasury front to back application Kondor+ and Kondor Trade Processing, and is in the final stages of rolling out the Kondor interest rate and liquidity risk module. It also plans to use KVAR to calculate and report cross asset class value-at-risk (VAR) on their positions held in the Kondor+ system.
Emirates Bank says that it requires risk management tools such as KVAR because of continued growth of its client and propriety treasury business.
Reuters says that demand for its trade and risk management products is growing in the Middle East as the banking sector is becoming increasingly sophisticated. Earlier this year, Reuters announced deals involving full suites of Kondor trade and risk management products with the government of Dubai, Department of Finance and the Commercial Bank of Qatar.
