Technology

Berenberg Upgrades FX Engine, Stays With Provider

Max Skjönsberg London 17 November 2011

Berenberg Upgrades FX Engine, Stays With Provider

Hamburg-headquartered Berenberg Bank, German’s oldest private bank, has upgraded its foreign exchange infrastructure in a bid to deal with its complex decentralised system.

Berenberg launched a London office earlier this year and the new system is intended to help the bank with business both inside and outside its domestic market.

The new system, Catalys, is based on the previous one, CameronFIX, both from CameronTec, a software company and a subsidiary of Orc Group, the Swedish financial services technology conglomerate. Berenberg has been a customer of CameronTec since 2005 and signed a new contract at the beginning of 2011.

Family-owned Berenberg was set up in 1590 and members of the founding family are still involved with the bank. Besides Germany and the UK, it operates in Austria and Switzerland.

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