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Duco, a London-based provider of hosted reconciliation services, has signed four new customers in the past five weeks, officials say.
China Merchants Securities (CMS) is the latest to adopt Duco Cube for its reconciliation and matching needs, signing last Friday, officials say. They are joined by two unnamed North American banks, a Japanese financial institution, “along with their listed and over-the-counter futures commission merchant (FCM) business areas,” according to a Duco statement.
Duco Cube allows firms to control complex data through a self-service model, and has reconciled more than 300 million transactions since its inception, according to the statement.
“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,” says Duco Chief Marketing Officer Patrick Thornton-Smith. The range of business cases across these new clients is wide, covering regulatory, accounting, finance, operations and banking reconciliation. … We now have 16 clients across the globe and expect a rapid increase next year.”
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- CMS,
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- Reconciliations
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