Hong Kong-based Bank of East Asia (BEA) is implementing a straight-through procesing system (STP) based on Reuters' Kondor trading and risk management package to support its treasury operations.
The bank is installing the Kondor+ front office system, Kondor Trade Processing (KTP) back office settlement software and risk management packages, Kondor Global Limits and Kondor Value at Risk at its treasury trading desk in Hong Kong.
BEA says the software will expand and automate its treasury operations as well as help the bank comply with Basel II regulations.
Reuters says the products will provide BEA with a complete treasury risk system that will seamlessly link to the bank's confirmation, settlement and accounting processing applications.
Kay-cheung Chan, executive director and deputy chief executive at BEA, says: "Reuters integrated treasury risk solution will enable us to expand our services and allow BEA to become one of the first local banks in Hong Kong to fulfill the latest Basel II regulatory requirements by the end of 2004."