CLSA which have been using GL TRADE Front Office Solutions for many years becomes the first institution in Hong Kong to choose the entire post-trade solution for derivatives from GL TRADE (combining TRADERWATCH, GL CLEARVISION and UBIX).
CLSA will thus benefit from a high straight-through-processing level and cost reductions due to a simplified infrastructure: the three solutions are completely integrated and, implemented on the same hardware with a centralised single database (Oracle). The order management from Front to Middle to Back-office is entirely automated yet flexible thus helping the business to focus on exception management and client delivery in real-time. Due its high-scalability, GL TRADE suite will enable CLSA to grow their volumes and clearing memberships without having to grow their overheads.
The UBIX solution CLSA acquired comprises of all UBIX margin methods for their carry business, which covers the major exchanges around the world. It also includes five Full Clearing Member modules (Hong Kong, India, Malaysia, Singapore and South Korea).
T. Rajah, CIO at CLSA, comments: "We had been using the solution of one of the leading provider locally. We felt our business had got to the point where it had outgrown the capabilities of both the system in areas such as global margining and of our former supplier to be able to provide an appropriate level of service and support to our business expansion requirements, which includes a number of sites in Asia. GL TRADE, with its comprehensive regional reach in the Asia-Pacific area provides a service of genuine regional/global reach and local touch. Working with GL TRADE, we also greatly appreciate the possibility to deal with a single company for all our business requirements. We see great benefit in the commercial economies of scale that a single company solution offers."
Franck Peltier, CEO of GL TRADE Asia commenting this new mandate: "The synergy between UBIX and GL TRADE's nat native post-trade sonat native post-trade solution is obvious.We are delighted to be creating value for our clients by offering them a modern, STP solution to support their growth on the derivatives market". The system is live now on both HKFE and carries markets since the end of September 2006 and we can consider this first installation as a success for both CLSA and GL TRADE.