Sakura Bank Buys Global License, FNX Source Code Nixing Earlier Plans To Upgrade Sungard/Devon System
MANAGEMENT ISSUES
Sakura Bank has purchased a global licence for Philadelphia-based FNX's front-to-back office suite of forex options software, nixing earlier plans to upgrade its incumbent Devon Derivatives System from Sungard Capital Markets. The most recent contract also grants Sakura rights to the FNX system's underlying source code.
The deployment of the FNX system for FX options dealing takes place against the backdrop of separate $30 million development project at Sakura to build a global market risk
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