Bank of China goes live with Summit

Bank of China goes live with Summit

Bank of China has implemented treasury and capital markets software from Misys subsidiary Summit Systems across its interest rate derivatives trading desks.

The system handles all aspects of derivatives trade entry and pricing. The product also interfaces with market data feeds and provides real-time services including market risk, FX positions, bond positions and money market securities issuance.

Marc Coutelier, manager of the Asia region at Summit, says the system was implemented in Beijing and completed within two months, enabling the bank to go live in the middle of December 2003.

The software has also been installed at other sites to provide the bank's overseas staff with remote access.

Summit says it was chosen to supply a front office system from a shortlist of vendors that included Reuters, Sungard and Murex.

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