China CITIC Bank Adopts Sungard's STP And Risk Management Solution

China CITIC Bank, a subsidiary of China International Trust and Investment Corporation, adopted SunGard's solution for front to back office trading of its foreign exchange, money market, fixed income and derivatives businesses. SunGards's Adaptiv is a credit and market risk

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China CITIC Bank, a subsidiary of China International Trust and Investment Corporation, adopted SunGard’s solution for front- to back-office trading of its foreign exchange, money market, fixed income and derivatives businesses.

SunGards’s Adaptiv is a credit and market risk solution that assists financial institutions keep in line with regulatory requirements.

“The work we have been doing is pioneering in China,” said Mr. Pan, general manager, China CITIC Bank. “Adaptiv enables us to provide a tool for business analysis and support our decision-making for the front to end business and risk management thus assisting us reduce costs and improve efficiencies in this complex and volatile market.”

The Adaptiv solution will assist China CITIC Bank manage its risks associated with treasury trading by providing real-time position keeping, profit and loss analysis, VaR analysis and secure trade processing and deal management. Adaptiv will also enable China CITIC Bank to model a range of instruments and derivatives.

Adaptiv has already been implemented at China CITIC Bank’s head office in Beijing within it’s financial markets department.

“Adaptiv will perform accounting tasks, such as general ledger entry and manage the associated risk in addition to providing straight-through processing capabilities for improved efficiencies and reduced costs,” said John Wilson, president, SunGard Asia Pacific.

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