The vendor says the bank will implement the system across global arbitrage trading, structured products, synthetic fund of funds and convertible bonds desks in New York, London and Tokyo.

The bank will use the platform to meet regulatory requirements, manage operational risk in the middle and back office and enhance market risk controls and reporting.

Peter Sanchez, global head of operations, capital markets and securities says: "We wanted a single system to manage multiple instruments across several locations globally."

Hervé Vinciguerra, chairman, Sophis, adds: "This is a key project for us as we expand in North America, where efficient transaction processing at high volumes is a fundamental requirement."