Sumitomo Mitsui Banking Corporation (SMBC) has gone live with Sierra System to support its newly-combined, fixed-income operations. The corporation is the result of a merger between Sumitomo Bank and Sakura Bank on April 1.
The Sierra System was provided by FXX Limited, a global capital markets solutions provider based in Pennsylvania. SMBC chose the system because of its extensive cross-product functionality and ability to handle SMBC's increased transaction volumes. The bank was also attracted by its extensive risk analytics and bond pricing capabilities.
Sumitomo Bank had been using the fixed income module since 1998.