Bear Stearns implements new back-office derivatives system
London-based derivatives technology company Rolfe & Nolan has implemented new reconciliation and task management systems for futures and options processing at investment bank Bear Stearns.
Jim McCarthy, European sales and marketing director for Rolfe & Nolan, said it took one week from the contract being signed to the system going live. He claims the systems will enhance straight-through processing and will have an immediate impact on profitability.
Rolfe & Nolan yesterday confirmed it has received a bid approach that may lead to an offer being made for the company. It did not name the bidder.
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