DnB NOR Goes Live With Minerva
London, 31st May 2005 - DnB NOR Asset Management, Norway's largest provider of mutual funds and discretionary asset management services, with total assets of more than NOK 450 billion, has successfully completed the implementation of Minerva, LatentZero's order management system (OMS), at its Stockholm base. Phase two of the implementation will see Minerva operating across DnB NOR's centres in Hong Kong, New York and Oslo.
DnB NOR were looking for a solution with an open, flexible architecture that could easily integrate with a number of disparate systems. A rigorous selection process saw an initial long list of 10 products whittled down to three for a detailed evaluation.
Martin Johansson, of DnB NOR Asset Management, commenting on the selection process, said: "We have gone through two mergers in the last three years so it was important for us to have an OMS that could work with a variety of legacy systems."
He explained: "We chose Minerva because it offers great functionality combined with a look and feel that users like. It provides dealers with more efficient work flows and will significantly improve our STP. It will also allow us to more accurately measure performance and best execution across our global operation. LatentZero is an interesting company: in addition to its good technology, we were impressed with the competence and industry knowledge of its people who worked hard to ensure a successful implementation."
LatentZero is a global technology firm that specializes in developing complete front-office solutions for the buy-side community. LatentZero's suite of products, known collectively as Capstone, is used by six of the world's top 10 asset management organizations. More than 3,500 portfolio mangers, traders and compliance officers worldwide rely on Capstone to manage assets in excess of $7.5 trillion.