Guotai Junan International updates derivatives tech with Finastra
Guotai Junan International (GTJAI), a subsidiary of one of China’s largest investment banks, has gone live in Hong Kong with a new equities derivatives system supplied by Finastra.
The vendor has implemented its Fusion Sophis system, which it says has enabled GTJAI to offer trading operations in Hong Kong for the first time after a “short” implementation period.
GTJAI is the Hong Kong-registered subsidiary of Guotai Junan Securities, an investment bank based in Shanghai with $65 billion in assets.
“We are committed to building a totally new platform in Hong Kong to cater for the needs of our clients for tailor-made OTC structured products and exchange-traded derivatives products,” says Henry Yu, head of financial products and wealth management at GTJAI.
The firm chose Finastra as the Sophis platform gives its traders “the tools they need to effectively manage daily operations.”
Wissam Khoury, general manager and senior vice president for Asia Pacific and Middle East and Africa at Finastra, adds: “GTJAI had already built a highly successful securities brokerage business in Hong Kong, so expanding operations to become a full-service financial institution was a natural next step.”
“We are pleased to have helped GTJAI get to market so quickly and we look forward to continuing to work together in the future.”
Fusion Sophis, formerly FusionCapital Sophis, is advertised by Finastra as a front-to-back pricing, risk, processing and reporting system for derivatives trading desks.
Its name is taken from Sophis, the portfolio and risk management firm Finastra (then known as Misys) acquired in November 2010.
For a time Finastra’s FusionCapital solutions included a bundle of treasury systems snapped up by the firm over years, including Opics, Summit, Kondor, and Risque.