China CITIC Bank has implemented Sungard's credit and market risk system, Adaptiv, at its head office in Beijing.
SunGard Asia Pacific says the technology will support CITC's front to back office trading of FX, money market, fixed income and derivatives businesses, enabling the bank to model a wide range of instruments and derivatives and to settle and confirm a variety of treasury trades.
The system will also provide advance real-time position keeping, profit and loss analysis, VaR analysis, secure trade processing and deal management and perform key accounting tasks such as general ledger entry.
A CITIC spokesperson says: "Adaptiv provides us with an integrated straight-through processing and modern risk management tools. Importantly, its flexible, extensible platform is capable of supporting our planned growth and will assist us to continue to be a leader in China’s banking industry."
SunGard says CITIC is its first risk management client in China.