China's largest bank, the Industrial and Commercial Bank of China (ICBC; Beijing), has completed a major 17 month project to implement treasury and capital markets systems from Misys, a global application software and services company. The development underpins the expansion of ICBC's treasury and capital markets business in the high-growth structured products area and will enable the bank to process high volumes of complex structured trades.
ICBC worked with Misys to implement Misys Summit FT, a treasury and capital markets solution to enhance trading efficiency on financial derivative market. Phase one of the implementation saw the bank go-live on Misys Summit FT's Fixed Income Back Office modules within weeks of ICBC's listing in October 2006.
The bank then completed a second phase, to take delivery of a front-to-back derivatives system which went live in May 2008. Finally, ICBC has successfully implemented Foreign Exchange and Money Market back-office system with Misys Summit FT.
ICBC partnered with Misys' services team used sophisticated modeling to test-drive trades and explore risk and exposure. As a result, the bank has successfully streamlined multiple processes across its front, middle and back offices including in deal entry, risk management and settlement, helping the bank to improve margins.
Peggy Bresnick Kendler has been a writer for 30 years. She has worked as an editor, publicist and school district technology coordinator. During the past decade, Bresnick Kendler has worked for UBM TechWeb on special financialservices technology-centered ... View Full Bio