18 November 2017
visit www.aciworldwide.com

China Construction Bank extends use of Catena Trace for FX derivatives trade reporting

23 March 2015  |  1295 views  |  0 Source: Catena Technologies Pte Ltd

Catena Technologies Pte Ltd today announced that China Construction Bank has extended its use of Catena's TRACE™ system to report foreign exchange derivatives to the Monetary Authority of Singapore.

Along with the extended use for FX, the bank will upgrade to Catena's latest hosted platform solution.

"Catena's TRACE solution has already proven valuable in meeting our production trade reporting obligations for MAS," said Terence Lee, Head of Operations for China Construction Bank Singapore. "Catena's regular consultation with the bank and consistent focus on product innovation has also helped us to continually reduce the operational effort and cost of reporting. Now, the regulatory focus has shifted to trade reporting for higher volume FX derivatives. We are extending our use of TRACE to cover these additional products, and we are also migrating to Catena's latest hosted solution for TRACE. The hosted solution will help the bank to significantly reduce the infrastructure and operational costs associated with trade reporting."

Catena Technologies' TRACE product enables financial institutions to report OTC derivatives trades to regulators via trade repositories. The system manages the end-to-end workflow for trade reporting by capturing, enriching, transforming, and automatically submitting the required information to trade repositories, as well as reconciling the trade repository information with the firm's in-house systems. TRACE aligns with the major trade reporting initiatives in Asia, including those in Japan, Hong Kong, Singapore, and Australia. Catena's newly announced hosted solution enables firms to fulfil their reporting obligations securely, without the need to maintain costly hardware and infrastructure.

"China Construction Bank has been a lead user of the TRACE system since the early stages of trade reporting, and they have extended their use of the system because of Catena's proven ability to constantly innovate and adapt to changing regulatory requirements," said Aaron Hallmark, CEO of Catena. "We are pleased to be working with the bank to migrate them to our latest hosted solution. We are similarly looking forward to helphelping other financial institutions throughout the Asia Pacific region to achieve the same success with TRACE that China Construction Bank has realized." 

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.vasco.comvisit www.atos.netvisit https://www.niceactimize.com

Top topics

Most viewed Most shared
Ripple boss predicts central bank adoption of blockchainRipple boss predicts central bank adoption...
13063 views comments | 21 tweets | 21 linkedin
Singapore central bank open sources blockchain prototypesSingapore central bank open sources blockc...
11815 views comments | 15 tweets | 28 linkedin
Digital receipt startup Flux scores game-changing deal with BarclaysDigital receipt startup Flux scores game-c...
9925 views comments | 20 tweets | 36 linkedin
AmEx partners Ripple and Santander for blockchain-enabled cross-border paymentsAmEx partners Ripple and Santander for blo...
9435 views comments | 13 tweets | 39 linkedin
UK cryptocurrency exchange startup launches debit card for spending bitcoinUK cryptocurrency exchange startup launche...
7969 views comments | 26 tweets | 37 linkedin

Featured job

Competitive base, commission, benefits
London, UK

Find your next job