Summit Selected by Bank of China for Front-Office Trading
Bank of China has chosen Summit System’s treasury and capital markets solution for the bank’s interest rate front-office trading desk. The system, which went live in December 2003, supports China’s first derivatives trading desk, according to Summit. The system has been implemented in Beijing with further installations at multiple sites to provide the bank with overseas remote access. In the front-office, Summit will handle all aspects of derivatives trade entry and pricing, interfacing with real-time market data feeds. The system will also provide real-time services including market risk, FX positions, bond positions and money market securities issuance.