Dresdner Kleinwort Wasserstein Launches "EQ Finance" Trading Tool.Business Editors LONDON--(BUSINESS WIRE)--Aug. 30, 2001 Investment bank Dresdner Kleinwort Dresdner Kleinwort (DKIB) is the investment bank of Dresdner Bank AG, part of Allianz since July 2001. Headquartered in London and Frankfurt and with an international network including offices in the financial centres of New York and Tokyo, Dresdner Kleinwort provides a wide range 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 Reverse repo In essence, refers to a repurchase agreement. From the customer's perspective, the customer provides a collateralized loan to the seller. 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 straight-through processing The direct exchange of cash and securities. Straight-through processing is a major objective for cross-border transactions that are generally much more costly to settle compared to domestic transactions. (STP STP or standard temperature and pressure, standard conditions for measurement of the properties of matter. The standard temperature is the freezing point of pure water, 0°C; or 273.15°K;. ), client transaction costs Transaction Costs Costs incurred when buying or selling securities. These include brokers' commissions and spreads (the difference between the price the dealer paid for a security and the price they can sell it). 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 according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. 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 clients and DrKW. EQ Finance is protected against unauthorised access by advanced security systems, including digital certificates and 128-bit encryption. Speaking today Walter Kraushaar, Global Head of Equity Finance at DrKW said: "From the outset we have wanted to offer our clients a customizable trade entry STP solution while highlighting our unique position as principal. EQ Finance was developed with these key requirements in mind and we are confident that we have found a solution that will match our clients' high expectations." About Dresdner Kleinwort Wasserstein Dresdner Kleinwort Wasserstein is the marketing name for the investment bank of Dresdner Bank Dresdner Bank AG is one of Germany's largest banking corporations and is based in Frankfurt. History 19th century Dresdner Bank was established on 12 November 1872 through the conversion of financial institution Michael Kaskel. AG, a member of the Allianz Group. Headquartered in London, Frankfurt and New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , DrKW provides a full range of investment bank products and services to European and international clients including corporates, institutions, and governments through its Investment Banking, Global Equities, Global Debt, Online Markets and Private Equity business lines. DrKW adds value for its clients by utilizing its strengths in European debt and equity markets and its leading position in European distribution, and international risk management, derivatives, and M&A and advisory. For more information on Dresdner Kleinwort Wasserstein, visit www.drkw.com . (a) EQ Finance may not be available to clients in certain jurisdictions. |
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