Diagram supplies back-office solutions, including software packages, and value-added services such as consulting, training and integration for banks, brokers, fund and asset managers and insurance companies. It also offers integrated corporate treasury systems, including electronic banking solutions, for the cash and risk management departments of corporations and large banks. Diagram currently operates in France and Benelux but is developing businesses in Italy and Japan.
Diagram’s products will be further integrated with Reuters trade and risk management solutions, using Active-Enterprise technology supplied by TIBCO Software Inc. Already Reuters and Diagram have provided integrated solutions using Kondor+, Reuters flagship risk product for the front offices of financial institutions. Integrated solutions meet the strong demand for Straight Through Processing and Operational Risk Management in the capital markets which link all stages of a transaction from pre-trade analytics and deal capture to clearing, settlement and accounting.
Diagram’s development and product management staff will be integrated into Effix, a Reuters development centre for front and middle-office solutions based in Paris. The management of Diagram will remain with the company and play a full part in the integration. Reuters will distribute Diagram’s products worldwide.
Pierre-Andre Martel, President of Diagram, commented: Diagram is a solid company facing the challenges of globalisation. Reuters came to us with an outstanding opportunity for Diagram to become a full member of a powerful worldwide player offering integrated front-to-back office solutions. With such complementary products, similar culture and professionalism, the integration into Reuters seems a natural step. There could not be a better project for our employees and our customers.
Philip Green, Chief Executive, Reuters Financial, commented: This example of our strategy to ‘buy not build’ will immediately strengthen Reuters position in the global software solutions market and enable us to offer our customers a complete integrated front-to-back office solution. At the same time it will strengthen our presence in the buy-side and corporate treasury markets. Diagram and Reuters already enjoy a proven working relationship and we aim further to exploit these synergies.
