Hachijuni Bank, a leading Japanese regional bank, looked to SunGard for a trade order management system to streamline the bank’s workflow and consolidate asset classes for centralized cash flow and risk management. Global Trader is providing synchronized position management for Hachijuni’s treasury centers in Tokyo and Nagano by gathering orders in real-time from the bank’s Japanese branch offices. The bank can now centrally manage its current positions, profit & loss and risk variables, and integrate them with its other systems.
The SunGard solution also affords Hachijuni Bank a centralized view of its consolidated book and limits. Additionally, Global Trader will help Hachijuni Bank substantially reduce administrative and processing costs by automating reporting functions previously handled by the bank’s treasury department.
Tadashige Maeyama, director of Hachijuni Bank’s Tokyo branch, said, "The SunGard solution gives us the business platform we were looking for. Consolidating transactions from various asset classes has helped us to increase workflow efficiencies and has already significantly decreased our processing costs. We see decreased costs as a key factor for success, giving us a competitive advantage among Japanese regional banks."
David Crellin, executive vice president of SunGard Trading Systems/Global Markets, commented, "With this successful implementation at Hachijuni Bank, we have made a major step into the Japanese retail banking sector. This is the first regional bank that has implemented Global Trader, and it represents a significant endorsement for our Japanese business."
SunGard’s Global Trader software provides front-end deal capture, position keeping and analytics for fixed income, foreign exchange, and money market trading desks around the world. With a strong presence in Japan, Global Trader is used in other foreign and domestic securities and treasury dealing rooms. Japanese institutions use Global Trader to process government bonds, CDs, CPs and other domestic Gentan, Yutan and Mutan repo transactions, including the esoteric domestic market conventions around these instruments. Global Trader also offers the unique functionality of providing display screens using Kanji characters, a feature tailored specially for the Japanese market. Asian clients benefit from this functionality, using double-byte characters to import the data in the native language without mapping them to the English Language, to complete the software implementation.