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Business Editors
LONDON--(BUSINESS WIRE)--Aug. 30, 2001
Investment bank Dresdner Kleinwort Wasserstein (DrKW) today announced the launch of `EQ Finance' - a unique client-facing technology that provides a web-based equity lending/borrowing and repo/ reverse repo trading and order management platform.
EQ Finance, designed and built in-house by DrKW, provides DrKW clients with a platform for processing trades straight through from beginning to end. With DrKW acting as principal between the lenders and the borrowers, users will benefit from unique access to an extensive range of potential business counterparties. The new product is open to approved(a) clients of DrKW; 180 clients from a wide range of institutions have already expressed interest in the service.
EQ Finance will also offer simplicity, cost-effectiveness and transparency, through its ability to interact with clients in an integrated and automated online environment. EQ Finance matches supply and demand, and through its use of straight-through processing (STP), client transaction costs are reduced and operational risk is more easily quantifiable. Users will also benefit from a product that carries customizable functions enabling clients to develop the tool according to their own criteria and business needs. It also monitors all transactions online and offers a real-time mark to market of all open equity-financing positions between the ...