Top tier bank HSBC is to roll out Yolus' enterprise risk management technology in New York following a successful pilot of the system.
The London-based vendor says HSBC chose to implement its Y-ERM system following an evaluation of vendor products for derivatives product control.
The product imports end-of-day P&L and risk figures reported by front office systems to deliver a consolidated view of the trading operation across products and locations.
Greg Williams, global head of derivatives product control IT, HSBC, says a pilot of the Yolus system was tested with a ten-fold increase in trading volumes and evaluated against current and future-state requirements and "in all cases these tests were met".
The system will initally be rolled out at the bank's credit trading product control department in New York.