In a move meant to improve service to its U.S.-based customers with operations abroad, ADS Associates has opened an office in London.
The Calabasas, Calif.-based technology firm develops trading, investment, and risk-management systems.
The company's products include Resource, a treasury management system used by state and local governments, and Global Trader, a trade-processing system.
ADS Associates has staffed the new London office with two people in sales and four in technical support. The firm currently has 10 clients in Europe representing more than 350 users.
ADS Associates has also announced that the Standard Bank of South Africa purchased Global Trader.
Barry Bolger, vice president of marketing at ADS Associates, said the South African bank's goal was to apply new technologies to make it more competitive in global markets.
Global Trader is being installed at 65 workstations at the bank's Johannesburg headquarters. The system is designed to track and measure risk in the bank's positions in the fixedincome, money-market, and foreign-exchange departments.
