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Technology / AI and automation

Agricultural Bank of China goes live with Misys Summit FT

The formation of joint stock owned banks and the move towards global listing of state-owned banks, including ABC, has resulted in these banks needing to update and modernize their operating infrastructure.

ABC, as one of the big four Chinese banks, was awarded a derivatives business license by the regulatory authority. To manage its growing derivatives business, the bank needs an industrial strength trading and risk management system, with superior pricing and straight-through trade processing capabilities in complex structured products.

The implementation of Misys Summit FT is expected to dramatically improve the bank’s trading environment and help it manage positions and exposures better as volume and complexity increases, comments Alan Railton, general manager, Treasury & Capital Markets, Misys Banking Systems.

In addition to meeting the bank’s complex trading needs, part of the project has involved replacing an existing FX and MM treasury system and integrating with its legacy back office application. We have a growing team of expert consultants in the capital markets area in Asia and have recently grown our team in Beijing in response to the growth in new client signings. ABC signed with us earlier this calendar year and has gone live on time and to budget.

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CBR Staff Writer

CBR Online legacy content.