RBC will use RISQUE to improve reporting, enhance market risk controls and minimize operational risks. RBC will implement the system across global arbitrage trading, structured products, synthetic fund of funds and convertible bonds desks located in New York, London and Tokyo.
The financial institution's diverse capital markets business sought a single system to process multiple instrument types across several geographical locations, while ensuring a first-rate reporting and controls environment. RBC is implementing RISQUE to meet regulatory requirements and effectively manage operational risk in the middle and back office. Sophis' structured products capabilities across the front, middle and back office, were a key factor in the selection process.
Peter Sanchez, Global Head of Operations, Capital Markets and Securities, Royal Bank of Canada comments, "We wanted a single system to manage multiple instruments across several locations globally. We are pleased to have worked with Sophis to achieve this."
HervÃ© Vinciguerra, Chairman, Sophis, says, "This is a key project for us as we expand in North America, where efficient transaction processing at high volumes is a fundamental requirement. As a global implementation, it highlights the strength of the RISQUE solution and the ability of Sophis to deliver the implementation strategy that meets the clients' needs. We are particularly pleased that RBC's growing structured products business will be able to take advantage of Sophis' expertise, and we look forward to working in partnership in the years to come."