Lombard Risk reports contract wins
30 July 2012
Lombard Risk Management plc (LSE: LRM) ("Lombard Risk"), a leading provider of integrated collateral management and liquidity, regulatory compliance and MIS reporting solutions for the financial services industry, is pleased to announce that the company has secured three significant new contract wins.
The first of these contracts is the licence and implementation of the Company's COLLINE collateral management software to a major international fund management group headquartered in the United States. The contract, which has a value in the first year of approximately £500,000, includes COLLINE's modules for:
• OTC collateral management
• Clearing and
• Management Information Reporting
Lombard Risk also announces that it has concluded two contracts for the European Banking Authority's COREP and other related reporting requirements, bringing to a total of thirteen the number of COREP contracts concluded so far, of which nine have been concluded since the start of the company's financial year on 1st April.
John Wisbey, CEO of Lombard Risk, commented: "We are delighted to have been able to add this prestigious U.S. fund management client to our very high quality client list for COLLINE.
As for other recent contract wins the addition of Clearing and our REPORTER MIS product to COLLINE was a major factor in winning this deal and we believe these modules together with those for Repo and Securities Lending will allow us to generate useful additional revenue from other clients in the coming year. We are also very pleased with the continued progress of the COREP program. As stated at the AGM on 13th July, the contract sizes achieved so far imply that the COREP and related EBA revenues for this programme should generate higher revenue for the company than the Liquidity programme of 2010".