China Construction Bank selects Catena's trace repository for OTC derivatives reporting
11 April 2014 | 2265 views | 0
Catena Technologies Pte Ltd today announced that China Construction Bank has selected its TRACE™ trade repository gateway product to report OTC derivatives trades to the Monetary Authority of Singapore.
"Using Catena's TRACE gateway will enable us to achieve many benefits by centralizing the reporting of our OTC Derivatives trade reporting across a line of financial products," said Mr. Terence Lee, head of China Construction Bank Singapore Operations. "TRACE's ability to report a variety of different OTC derivative trade types will help us to meet trade reporting obligations both in the immediate short-term and in the future. Further, TRACE's flexible features and configurable business rules will enable us to adapt our trade submissions in the future as regulatory requirements continue to evolve. In addition, Catena continues to consult with us about how to enhance the product to serve our future needs."
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.
"China Construction Bank selected TRACE because of its proven capability to deliver trade reporting for the bank's compliance obligations quickly and efficiently," said Aaron Hallmark, COO of Catena. "The bank's selection of the system underscores TRACE's growing acceptance in the Asia Pacific market as the standard for trade reporting integration. We look forward to continuing to help China Construction Bank, along with other clients in the region, as current and future phases of trade reporting continue to place new demands on the market."