TECHNOLOGY

Crédit Suisse has signed a multi-centre licence to install SunGard Capital Markets' Devon Forex System at several trading centres worldwide. The bank already has the system installed in its London trading room, and SunGard officials say it plans to put it in New York and Singapore as well. It will replace a number of third-party and in-house systems now installed.

Power Range Financial Services has selected the Telerate Workstation for its planned new trading room in South Africa.

The Hong Kong-based trading company, which is backed by the Bank of China, will also use TeleTrac for real-time technical analysis. It trades in FX spot, futures, commodities, securities and bullion. It is due to get a Hong Kong banking licence next year, say officials.

Rand Information Systems of the U.K. has developed a system on behalf of the National Australia Bank which monitors treasury transactions and immediately notifies the front and back offices if global limits have been exceeded.

The system, which enhances the Global Limit Control System (GLCS) used by a number of major banks worldwide, may soon be made generally available.

The system went live this summer after six months in development. Rand is now in discussion with NAB to enhance its functionality and to extend its application to other markets, such as derivatives.