Standard Chartered, awarded global bank of the year 2006, has chosen Sophis RISQUE to support its new equity derivatives activity, to be based in Singapore and Hong Kong and covering all major Asianmarkets.
The bank has gone live with Sophis’s full front-to-back offering, taking advantage of the firm’s STP capabilities for OTC products and is managing its risks in the platform, as well as using the VaR and reporting modules.
“We are expanding into the fast-evolving Asian equity derivatives market and with Sophis RISQUE to support our venture we will be able to rapidly build out a strong business. We selected Sophis as its solution for equity derivatives was the clear market leader and we were particularly impressed by the system’s comprehensive product coverage and its STP capabilities. With very ambitious deadlines set-up for this project, we were very impressed by Sophis’s ability to deliver the project on time and on budget,” says Bernard Yu, global head of equity derivatives, Standard Chartered.
“Equity derivatives are one of our key areas of expertise and we relished the opportunity to work with Standard Chartered to support its expansion in this area. Completing this project in four months is a true achievement as it was very challenging both in terms of business requirements and IT. The combination of our dominant position in this asset class and our local presence in the Asian markets provided a winning combination for Standard Chartered, which is now well placed to rapidly establish itself as a key player in Asian equity derivatives,” adds Corinne Grillet, COO Asia Pacific, Sophis.