China Merchants Securities and Three Major FCM Banks Sign for Duco at End of Year

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Dec 17, 2014, 07:00 ET

LONDON, Dec. 17, 2014 /PRNewswire/ -- Duco, a London-based technology provider of hosted reconciliation services, announced today that the firm has, in the past five weeks, signed four financial institutions as new customers. China Merchants Securities (UK) Limited is the latest to select the award-winning Duco Cube for a range of reconciliation and matching needs, signing last Friday. The others are two North American-based global banks and a major Japanese financial institution, along with their listed and over-the-counter futures commission merchant (FCM) business areas.

Duco Chief Marketing Officer Patrick Thornton-Smith said: "We are delighted to work with these three established banks and with CMS as it seeks to expand its footprint on the London Metal Exchange. The range of business cases across these new clients is wide, covering regulatory, accounting, finance, operations and banking reconciliation. Futures brokerages, especially those like CMS that are just setting up, are opting for Duco to enable them to keep costs and risk down as their business grows."

He continued: "It has been a very good year for us, and we are grateful to our clients for placing their confidence in us for their critical business functions in our first full year in business. We now have 16 clients across the globe and expect a rapid increase next year."

Last week Duco won the 2014 FOW International Award for "Best New Product – Reconciliation" for its flagship Duco Cube, launched in April 2013.

About Duco

Duco is a technology company focused on simplifying complexity by employing advances in computer science research. Its award-winning hosted reconciliation service, Duco Cube, enables firms to control complex data using light-touch, self-service technology. Since its launch, Duco Cube has reconciled more than 300 million transactions. London's Financial News recently named Duco CEO Christian Nentwich to its "40 Under 40 Rising Stars of Trading and Technology" as well as its "40 leaders in fintech" list of individuals who "display influence or innovation in the emerging financial technology ecosystem." Headquartered in London, Duco serves financial services clients throughout Europe, the United States and Asia.

For more information, please visit du.co

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SOURCE Duco