The Bank of Ningbo, a Chinese city-based commercial bank headquartered in Ningbo, Zhejiang, has gone live on the Calypso Collateral Management solution.
The solution by Calypso Technology, a provider of cloud-enabled front to back, cross assets capital markets and investment management software and services, performs end-to-end automation of collateral operations centrally.
Bank of Ningbo explained it selected the solution to help it with tough regulatory compliance and risk management standards.
An early participant in China’s derivatives trading market, Bank of Ningbo is expanding its over the counter derivatives trading with overseas counterparties.
Huihua Li, deputy general manager of risk management department of Bank of Ningbo, said: “Taking a ‘best of breed’ technology approach, the bank chose and successfully implemented Calypso’s easy to deploy, robust end-to-end Collateral Management solution in record time.”
Li continued: “I am delighted to see this latest technology solution adopted so quickly by users, thanks to its configurability, off-the-shelf global standard features and the high project management standard of the bank, the automation of the collateral management process has been extremely smooth.”
RG Manalac, Calypso’s managing director for Asia Pacific, commented: “Throughout the years, the Calypso Collateral Management and margin solution has grown consistently, and to see this expansion take hold in the China market added to the satisfaction of counting Bank of Ningbo as one of our partners is extremely rewarding.”
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