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Author: Steve Dew-Jones
Source: Sell-Side Technology | 27 Apr 2012
Categories: Clearing & Settlement
China-based bank picks solution from Nomura Research Institute for seamless connection to the Bank of Japan for foreign exchange (FX) yen clearing.
Bank of Communications, based in China, has gone live with Nomura Research Institute's I-Star/LC for fund settlement with the Bank of Japan.
The bank will now have seamless access to the foreign exchange (FX) yen clearing functionality within the fund settlement system of I-Star/LC.
"Through I-Star/LC, Bank of Communications will be able to reduce its internal development costs while maintaining full regulatory compliance," says Shin Kusunoki, corporate senior vice president and asset management systems division manager, Nomura Research Institute.
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