Citic Industrial Bank ramps-up risk systems

The bank, a wholly-owned subsidiary of China International Trust and Investment Corporation, plans to use the software for front- to back-office trading of its foreign exchange, money market, fixed-income and derivatives businesses, as well as managing the ri sks associated with its treasury positions, settlement and trade confirmation.

By establishing itself as the first bank in China to implement an integrated front-, middle-, and back-office straight-through processing (STP) solution, and adopting advanced risk management techniques, the bank is in line with Rong Yiren, former vice-president of China and honorary chairman of Citic Industrial Bank’s, proposal “to establish Citic Industrial Bank as an innovative bank with distinctive programmes and up-to-date financial practices.”

Meanwhile, SunGard said it would open an office in Beijing to provide technical and business support to potential Chinese customers. “SunGard is committed to helping China’s banks compete internationally as the country enters the WTO. Local representation reinforces our commitment to the China market,” said Kevin Lo, SunGard’s regional director for China.

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