Axis Bank, India’s third largest private bank, has selected Misys’ treasury and capital markets solution, Summit FT, in order to deal with the growth in interest rate, credit and FX derivatives.

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Basel II deadlines and the continued focus on managing operational risk are among the main strategic risk management issues facing IT departments in Asia-Pac banks, suggests Financial Insights’ annual report Asia/Pacific Risk 2008 Top 10 Strategic Initiatives: Striking an Optimal Balance between Risk and Reward.

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Hong Kong’s Wing Lung Bank has licensed Fenics FX, GFI Group’s pricing, risk management and trade processing system for FX options, for use in the bank’s treasury operations.

“As Wing Lung continues to grow its FX options business we require more automation and accuracy,” says Anthony Tsui, head of treasury at Wing Lung Bank. “Fenics FX gives us this capability and has proven itself against the other systems.”

IBM and Algorithmics are joining forces to implement a new portfolio construction and risk management solution for security trading and fund management at Guotai Junan Securities, one of the top five securities firms in China – and the first in mainland China to trade advanced financial products such as derivatives, according to the partners.

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Hong Kong-based financial services group Dah Sing Bank has licensed FENICS FX, a pricing and risk management system for foreign exchange options from GFI Group, for its treasury business. Says Woody Chan, general manager and head of the treasury division at Dah Sing Bank: “As Dah Sing continues to improve operational efficiency we are always looking for more effective system solutions for the group’s treasury division. We have selected GFI’s FENICS FX on the basis of its capability to provide analysis, ticketing and full STP.”

Standard Chartered has gone live with Sophis RISQUE to support its new equity derivatives activity, to be based in Singapore and Hong Kong and covering all major Asian markets. The bank has gone live with Sophis’s full front to back offering and is managing its risks in the platform, as well as using the VaR and reporting modules.

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Credence Analytics, provider of treasury and risk management solutions says Fullerton India Credit Company has chosen its solutions suite iDEAL Finance and CALMs for managing its treasury operations and the asset liability management of its balance sheet.

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China Merchants Bank (CMB) has gone live with a market risk and portfolio management solution from Misys. CMB became one of the first banks in China to install a first generation Misys Opics solution in 2004. As the risk management mandate has continued to evolve, however, CMB needed a more complex risk management solution, and has chosen to leverage its strategic relationship with Misys and implement Misys Opics Risk Plus.

Reval, provider of financial risk management solutions and services, has opened its first Australian office in Sydney to service its existing clients and develop its presence in the Asia-Pacific market – and to meet what it says is a growing regional demand for its derivatives management solution HedgeRx.

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Reuters partner Finpacific Treasury Systems has unveiled CATS - the Cashflow Analyst Treasury Solution - a hosted treasury solution for the corporate and fund management markets in Australia and New Zealand. Eureka Funds Management went live on the solution in late April, Finpacific reports.

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Korean securities house Daewoo Securities has selected SunGard’s Adaptiv 360 enterprise risk management solution to help manage requirements for new and complex derivatives.

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Cannizaro Capital Partners has joined Algoritmics’ Algo Risk Service, the managed service deployment of Algorithmics’ portfolio construction and risk management technology. Algorithmics will provide Cannizaro, the Hong Kong and Londonbased $300 million Asian multi- strategy fund, with an interactive risk management and portfolio modelling tool that is serviced by Algorithmics’ risk management team.

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