SOURCE: IBM

February 08, 2007 10:11 ET

VP Securities Services and IBM in 5-Year Services Agreement

COPENHAGEN, DENMARK -- (MARKET WIRE) -- February 8, 2007 -- IBM (NYSE: IBM) and VP Securities Services, the Danish Central Securities Depository, today announced a 5-year services contract for IBM to manage the operations and further development of the infrastructure of VP's central IT-system.

VP Securities Services is a preferred supplier of financial securities services for the Danish and Nordic markets. All Danish listed securities are issued through VP and held electronically. Transactions in listed shares, bonds and investment fund units are also settled via VP.

The securities market in Denmark has seen increasing activity in recent years, and the number of transactions recorded by VP has doubled since 2002, to 12.5 million in 2006. At the same time cross-border activities have grown considerably, along with demands for continuous availability. IBM's management of VP's infrastructure will utilize the latest in security and encryption technologies providing VP with high availability and protection from possible interruptions.

"The agreement with IBM will enable us to scale up for growth and internationalization by providing us with flexible and scalable solutions," says CEO Johannes Luef, VP.

With billions of DKK worth of securities handled on a daily basis, reliability and stability are vital to VP. Enhanced security measures are part of the agreement.

"Financial services firms require specialized, secure and flexible services that lower operating costs and minimize risk," says Henrik Frøkjaer-Jensen, Financial Sector Services, IBM Denmark. "Continuous investment in innovation allows IBM to create a new generation of solutions and services for companies like VP to help them better respond to changing customer and market demands."

The contract, signed in December 2006, is an extension of VP's existing services contract with IBM Global Technology Services for VP's mainframe operation, signed in 2002.

More information

For more information on VP Securities Services, visit www.vp.dk

For more information on IBM, visit www.ibm.com

Contact Information