DBS signs up to Front for credit derivatives

Singapore's largest bank, DBS, is to install Front Arena software to support its credit trading activities, including credit derivatives and credit basket trading. Front Arena was developed by Front Capital Systems, an operating unit of SunGard.

DBS becomes Front's first Asian banking customer. Arena offers flexible limit and exposure management, calculates real time P&L, as well as offering credit trading capabilities.

The Singapore bank said it reviewed several other systems in its appraisal, but did not mention specific names. "We plan to work closely with Front Capital Systems to expand our range of credit products so as to offer customised solutions for our clients,” said DBS' head of credit trading Sandeep Gill.

Front said it is also planning a further expansion into Asia.

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