Bank of Queensland Deploys Catena TRACE for Cross-Asset OTC Derivatives Trade Reporting
02nd Jun 2015 - Catena Technologies Pte Ltd today announced that Bank of Queensland has deployed Catena's TRACE™ system to report over-the-counter derivatives to the Australian Securities and Investments Commission (ASIC).
"We are pleased to have successfully deployed Catena's TRACE solution for the regulatory reporting associated with our OTC derivatives trading operations," said Tim Ledingham, Treasurer for Bank of Queensland. "Throughout the system selection and implementation process, Catena has demonstrated a commitment to customer success that has helped to ensure that our derivatives reporting runs smoothly. The system's key features, like configurable business rules, automated workflow management, and an easy-to-use dashboard are also helping us to streamline the operational processes associated with reporting".
Catena Technologies' TRACE product enables financial institutions to report OTC derivatives trades to regulators via trade repositories. The system manages the end-to-end workflow for trade reporting by capturing, enriching, transforming, and automatically submitting the required information to trade repositories, as well as reconciling the trade repository information with the firm's in-house systems. TRACE aligns with the major trade reporting initiatives in Asia Pacific, including those in Japan, Hong Kong, Singapore, and Australia.
"We are excited to have helped Bank of Queensland achieve success with their reporting of OTC derivatives to ASIC," said Aaron Hallmark, CEO of Catena. "BOQ demonstrated leadership with their early selection of TRACE in 2014, and the bank has made use of all of TRACE's key features in order to achieve a strategic advantage in their trade reporting operations. As the scope of regulatory requirements for OTC derivatives increasingly shifts toward the buy-side in Australia, Catena looks forward to helping other firms in the Australia market and throughout Asia Pacific to achieve similar success".
About Bank of Queensland
Bank of Queensland is one of Australia's leading regional banks and provides a genuinely independent alternative for Australian financial services customers. BOQ's strategy is based around operational excellence and delivering outstanding customer service. It offers competitive products and services across retail and business banking, finance, general and life insurance and superannuation.
Established in 1874, BOQ has more than 250 branches nationally with representation in every Australian State and Territory. BOQ is one of the top 100 companies ranked by market capitalisation on the Australian Securities Exchange.
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 worked with customers across 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.
For more information, contact:
Catena Technologies Pte Ltd
3 Phillip Street
#10-01 Royal Group Building
Republic of Singapore
Phone: +65 6100 0881
Fax: +65 6399 0881