Overseas-Chinese Banking Corporation (OCBC) has licensed the Spectrum MarginTrac System from Financial Software Systems (FSS). The bank will use Spectrum as its collateralised trading and risk system for treasury clients in foreign exchange, FX over-the-counter (OTC) options, including exotics, and non-deliverable forwards (NDFs).
The Spectrum MarginTrac software will primarily be used for pre-trade and post-trade risk management purposes, collateral management, and treasury sales desk client margin and commission management ends. The Spectrum implementation, expected to be completed by the summer, will include full integration into OCBC's global risk management architecture.
Commenting on the deal, Joseph Kubeyka, managing director of FSS’ Asia-Pacific region, said: "We are excited to expand our strategic relationship with OCBC. By selecting Spectrum MarginTrac, OCBC has decided to make Spectrum and FSS key components of OCBC's long-term strategic technology plan. Spectrum MarginTrac will enable OCBC to deploy our solution on a global basis for both sales and trading, while enabling OCBC to quickly offer new and innovative products to their client base."
By Neil Ainger