French-Anglo software house Sema Group Plc and Societe Generale SA, one of France’s leading banks, have created a joint venture company called Pareli, to develop and operate a multiple clearing information system for Parel, a newly-created subsidiary of the bank. Parel was created from the division of Societe Generale’s subsidiary stockbroking company Delahaye-Ripault into two companies, which will handle separately trade negotiations and trade clearing. Parel is charged with all tasks surrounding trade clearing, such as management of payments and deliveries for buyers and market compensations and management of the risks incurred as the subcontractor to trade negotiators. The Sema-Societe Generale joint venture, Pareli, is held 51% by the bank and 49% by Sema Group. As a base for the multiple clearing system, Pareli will use the stock trading back-office management system Investissiel from Sema’s subsidiary company Tibet. Sema also announced recently the formation of Outsource Pty Ltd, a facilities management joint venture in South Africa with Persetech Ltd, a local large-scale systems specialist. The joint venture company, which already employs 75 people in Cap, Johannesburg and Durban, has been awarded a three-year contract by BP South Africa for all of its systems management. The contract was awarded in the context of the worldwide facilities management contract awarded Sema Group by BP in the UK. Outsource expects to sign another contract with a large petrochemical company in the coming weeks, Sema said. Persetech, which is part of the electronics company Reunert Pty Ltd, reported revenues of $155m last year.
