Patsystems, a supplier of electronic trading solutions for the professional derivatives market, is pleased to announce that it has been awarded the front-end trading system contract and has entered into an agreement with the China Foreign Exchange Trade System (CFETS), a subsidiary of the People's Bank of China.
Patsystems is to provide CFETS with its front-end trading platform comprising its J-Trader front-end and its order and risk management system to the membership of CFETS. It will also provide CFETS and its members with access to the CME FX futures and options contracts through the Patsystems CME Gateway.
In addition to taking the front-end trading platform, CFETS will also take Patsystems' advanced risk management solution, Risk Informer. Risk Informer will enable CFETS to monitor the risk across all of its members for all business submitted to the CME.
Kazuaki Takabatake, Patsystems Regional Director for Asia said: "We have been looking into opportunities in China for the past 4 years and one of the key factors has been to find the right partner to work with. We are delighted to have signed this agreement with CFETS, a subsidiary of China's Central Bank: People's Bank of China, as it represents a significant milestone with regard to Patsystems' ever growing presence in the Asia Pacific region."