Turaz unveils latest version of Kondor+ trade and risk management software
Vista Equity Partners today announced it has completed its acquisition of Thomson Reuters Trade and Risk Management business following the agreement that was announced on 23rd September, 2011. The new company will be called Turaz. The value of the deal was not disclosed.
“Closing this deal with Thomson Reuters and acquiring what is already a very successful business in its own right is a great strategic transaction for Vista,” said Robert F. Smith, Vista’s founder and ceo. “We will apply our proven expertise in growing dynamic, successful technology-based organisations that deliver a great customer experience. We look forward to supporting the Turaz management team as they continue to grow the company and realise its full potential.”
Headquartered in London, with offices across the world, Turaz will be headed by Bret Bolin in the position of President and CEO. Over the last 12 years, Bret has successfully led a number of software companies; he joins Turaz from the position of CEO at P2 Energy Solutions, a provider of software, data and services to the upstream oil and gas industry.
“This is an exciting time to be joining a company that’s singularly focused on delivering trade and risk management software. My team is passionate about providing our clients with the tools they need to manage risk effectively in today’s market.” said Bret Bolin, president and ceo of Turaz. “Moving forward, our strategic priority will be to look at how we build on our current product roadmaps to ensure our customers receive maximum added value from the software and services we deliver. This commitment is demonstrated by the launch of the latest version of Kondor+; which has been positively received by both new and existing clients.”
The wider Turaz management team includes experts both from within the current business and from outside. Members of the team who have worked in the business for many years include: John Palmiero, leading global sales and marketing and Boris Lipiainen who will lead the product management and development functions. New to the Turaz team are Andrew Hicks as head of all general and administrative functions and Alan Somerville who will lead global client services and support.
Today Turaz also unveils the latest version of Kondor+, its award winning trade and risk management software. A new flexible architecture has dramatically improved the product’s openness and flexibility towards integrating third-party pricing and analytics, market data and other extended market capabilities. It introduces a highly scalable architecture for real-time reporting and simulation. It brings all the relevant information traders need to make critical business decisions into one highly intuitive and flexible view. Already renowned for its market-leading reliability and low total cost of ownership, the latest version of Kondor+ significantly expands cross-asset class coverage including full support for commodities cash and derivative trading front-to-back.
Adam Honoré, research director at Aite Group said: “As banks continue to grapple with the economic crisis in 2012 and meeting the burden of increased regulation they need solutions that are easy to integrate across the bank’s infrastructure, helping them capture and proactively monitor risk and comply with new reporting requirements. They also need the agility to react quickly to new market opportunities and scale to handle increased trading volumes, emerging markets, and multiple asset classes.”
