Sydney, Feb 22, 2008 AEST (ABN Newswire) - SimCorp announced today that Challenger Financial Services Group Limited (ASX: CGF)- an Australian domiciled publicly listed financial services company with a total of AUD 19.5 billion in funds under management as at September 30, 2007 - is to upgrade its use of SimCorp Dimension by licensing Order Management3 to manage its front-office operations.
Order Management3 is the recently released trade order management software module within SimCorp Dimension replacing its existing order management system. It supports the full trading lifecycle and has been designed to support a flexible and fast-moving trading room environment. Challenger has used SimCorp Dimension as its investment management platform for middle- and back-office operations across its Asset Management and Funds Management businesses as well as its treasury unit since early 2004. Its decision to upgrade to Order Management3 followed a detailed evaluation of trade order management systems from SimCorp and other vendors.
The implementation of Order Management3 will see Challenger continue to use SimCorp Dimension across its entire investment management operation - from front to back.
"Challenger has already achieved significant efficiency dividends through its use of SimCorp Dimension as its investment operations management platform," says Derek Goh, Challenger's Executive General Manager of Information Technology and Management Services.
"It was clear to us that we could gain further efficiency dividends by using a fully integrated tool set across our entire asset management operation - and that Order Management3 would scale readily to accommodate our growing business."
SimCorp
SimCorp is a leading provider of highly specialised software and financial know-how for the financial sector. SimCorp has approximately 850 employees and is listed on OMX Nordic Exchange Copenhagen A/S. For more than 35 years, SimCorp has developed its product in close collaboration with a number of international financial institutions. The SimCorp system, SimCorp Dimension, is sold, implemented and supported from the head office in Copenhagen and subsidiaries in Amsterdam, Brussels, Frankfurt, Hong Kong, London, New York, Oslo, Singapore, Stockholm, Sydney, Vienna and Zurich.
Contact
Nick Quin
Sales and Marketing Director
SimCorp Asia
+61 (0) 2 9241 4222
Nick.Quin@SimCorp.com
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