Catena Technologies Pte Ltd today announced that RHB Bank Singapore has selected its Trace trade repository gateway product to report OTC derivatives trades to the Monetary Authority of Singapore.
"There are many benefits that we will achieve by consolidating our OTC Derivatives trade reporting using Catena's TRACE gateway," said Mr. Lee Tian Mong, head of RHB Bank Singapore Treasury Processing and Control. "The system's ability to cover multiple asset classes helps ensure that we can meet current and future compliance obligations. Over and above, TRACE's flexible and configurable design will enable the bank to rapidly adapt to future regulatory requirements."
Catena Technologies' TRACE product enables banks to report OTC derivatives trade information to regulators via trade repositories. It captures, consolidates, and transforms derivatives trade information, and serves as a gateway that manages the flow of information between trading systems and DTCC-based trade repositories. TRACE aligns with the major trade reporting initiatives in Asia, including those in Japan, Hong Kong, Singapore, and Australia.
"RHB Bank Singapore selected TRACE because of its value and timeliness of delivery," said Aaron Hallmark, COO of Catena. "Catena looks forward to providing similar benefits to other clients in the Asia Pacific region, helping them address their trade reporting compliance needs."