China Construction Bank (CCB) will extend its use of Catena’s Trade Reporting and Compliance Engine (TRACE) solution for reporting foreign exchange (FX) derivatives trading to the Monetary Authority of Singapore (MAS).
CCB will also upgrade to a new hosted solution for trade reporting that removes hardware and infrastructure requirements.
"Catena's TRACE solution has already proven valuable in meeting our production trade reporting obligations for MAS," says Terence Lee, head of operations for CCB Singapore. "Now the regulatory focus has shifted to trade reporting for higher volume FX derivatives. We are extending our use of TRACE to cover these additional products, and we are also migrating to Catena's latest hosted solution for TRACE. The hosted solution will help the bank to significantly reduce the infrastructure and operational costs associated with trade reporting."
In June 2014, CCB was chosen as London's first clearing house for renminbi (RMB) trading.
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