China Construction Bank Selects Catena TRACE trade repository gateway for OTC Derivatives Regulatory Reporting
11th April 2014 - Catena Technologies Pte Ltd today announced that China Construction Bank has selected its TRACE™ trade repository gateway product to report OTC derivatives trades to the Monetary Authority of Singapore.
"Using Catena's TRACE gateway will enable us to achieve many benefits by centralizing the reporting of our OTC Derivatives trade reporting across a line of financial products," said Mr. Terence Lee, head of China Construction Bank Singapore Operations. "TRACE's ability to report a variety of different OTC derivative trade types will help us to meet trade reporting obligations both in the immediate short-term and in the future. Further, TRACE's flexible features and configurable business rules will enable us to adapt our trade submissions in the future as regulatory requirements continue to evolve. In addition, Catena continues to consult with us about how to enhance the product to serve our future needs."
Catena Technologies' TRACE product enables banks to report OTC derivatives trade information to regulators via trade repositories. It captures, consolidates, and transforms derivatives trade information, and serves as a gateway that manages the flow of information between trading systems and DTCC-based trade repositories. TRACE aligns with the major trade reporting initiatives in Asia, including those in Japan, Hong Kong, Singapore, and Australia.
"China Construction Bank selected TRACE because of its proven capability to deliver trade reporting for the bank's compliance obligations quickly and efficiently," said Aaron Hallmark, CEO of Catena. "The bank's selection of the system underscores TRACE's growing acceptance in the Asia Pacific market as the standard for trade reporting integration. We look forward to continuing to help China Construction Bank, along with other clients in the region, as current and future phases of trade reporting continue to place new demands on the market."
About China Construction Bank Corporation
China Construction Bank is a leading commercial bank in China providing a comprehensive range of commercial banking products and services. The bank has an extensive customer base, with established banking relationships with many of the largest business groups and leading companies in industries which are strategically important to China's economy. At the end of June 2013, the market capitalization of the Bank reached US$176.7 billion, ranking 5th among listed banks in the world. The Bank had a network of 14,925 branches and sub-branches in Mainland China, maintained 10 overseas branches in Hong Kong, Singapore, Frankfurt, Johannesburg, Tokyo, Seoul, New York, Ho Chi Minh City, Sydney and Taipei, and owned multiple subsidiaries, such as CCB Principal Asset Management, CCB Financial Leasing, CCB Trust, CCB Life, Sino-German Bausparkasse, CCB Asia, CCB London, CCB Russia, CCB Dubai and CCB International. The Group provides comprehensive financial services to its customers.
About Catena Technologies Pte Ltd
Catena Technologies Pte Ltd specializes in architecture, design, and delivery of advanced technology solutions for the financial services industry. Based in Singapore, the company has helped customers around the world, including the U.S., U.K., Japan, Hong Kong, Australia, Singapore, and China. Catena Technologies combines in-depth knowledge of the financial markets with expertise implementing cutting-edge solutions.
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Catena Technologies Pte Ltd
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Phone: +65 6100 0881
Fax: +65 6399 0881