REUTERS <RTRSY> IN PROPERTY FINANCE SYSTEM
Reuters Holdings PLC's Reuters
Information Services Inc subsidiary and Real Estate Financing
Partnership of Philadelphia said they have developed RSVP, an
electronic market access system for commercial property
financing.
    The companies said the system, on completion of testing,
will use the Reuter communications network to provide a
confidential method for the purchasing, selling and financing
of commercial property. They said principal participants in
RSVP are expected to be private and institutional commercial
real estate owners, brokers, purchasers and investors.
    The companies said the system, which will operate in
domestic and international markets, is expected to be
particularly useful to mortgage brokers and loan
correspondents.
    They said Reuters will provide systems software, hardware
and telecommunications capabilities and support under a
long-term working agreement with Real Estate Financing
Partnership and will also provide sales assistance and
marketing support to Real Estate Financing.
    Real Estate Financing designed RSVP.
    The companies said RSVP will use Reuter Monitor technology
and the Reuter private communications network to provide a
global financing capability for commercial real estate
ventures. It will enable parties seeking real estate financing
to identify funding sources on a private basis.
    They said the system is scheduled for testing in August in
selected U.S. cities and is expected to be operational about 90
days after initial testing.
 Reuter
