The Shanghai Commercial & Savings Bank selects Nasdaq’s Treasury solution for local enhancements, global expansion, and liquidity risk management under turbulent market conditions
Nasdaq, today announced that The Shanghai Commercial & Savings Bank, Ltd. (SCSB), one of Taiwan’s most prominent local commercial banks, has selected Nasdaq Calypso Treasury front-to-back solution to support its treasury management cross-asset front-office requirements with a specific focus on derivatives and compliance with the latest regulations, including uncleared margin rules (UMR), and LIBOR.
Driven by the need to enhance its local product offerings, respond to emerging digitalization trends, globalization, and unprecedent market conditions, the SCSB required a robust platform like Calypso for its risk and liquidity management. The Calypso Treasury solution unlocks efficiencies and sets up the required flexibility and scalability as businesses expand. The solution enables banks to increase business agility and better support local-market growth, and increased volumes. It also speeds up time-to-market for its new product offerings such as carbon-trading asset class in light of emerging environmental, social and governance (ESG) initiatives going live, globally.
The Calypso Treasury solution offers a consolidated platform based on global best practices and addresses local needs, providing banks with a solid baseline to scale as they expand their businesses. This in turn enables financial institutions like the SCSB to benefit from a bank-wide, cross-asset view of its books – foreign exchange, money market, interest rates, and equity – for holistic risk management in real-time, enterprise-wide and on a single platform.
The Shanghai Commercial & Savings Bank is committed to accelerating digital transformation and expanding its international business to address technological development trends of artificial intelligence and agility and has been actively seeking an international partner to work with. On April 10, 2023, the bank formally signed a contract with Adenza, the internationally renowned financial transaction management solution provider of the Calypso platform. With the overall optimization the platform delivers, SCSB will provide more diversified and price-competitive financial transaction services in the future.
The Calypso platform, delivered in partnership with Metrics Technologies, is used by many large or multinational bank customers at home and abroad. In the future, SCSB will use it to integrate financial transactions in the front office, risk management in the middle office, and settlement in the back office. The platform will help us to achieve a consistent control process, improve transaction efficiency and accuracy, and control various risk limits in real time. It will also help us to comprehensively expand the business scope and trading volume of financial instruments and improve our ability to design products in house. In addition, we can effectively enhance the competitiveness of our financial trading and simultaneously provide core growth momentum for the promotion of our international business.
- Clement Lee, Head of Treasury, Shanghai Commercial & Savings Bank.
With the full Calypso Treasury cross-asset solution – foreign exchange, money markets, interest rates, and equity – the SCSB can confidently address a range of treasury requirements, including valuation adjustments, locally and internationally. It can also comply with regulatory requirements such as the LIBOR transition requirements as well as futureproof itself for emerging ones like ESG. Leveraging our Asia Pacific Centre of Excellence and our partnership with Metrics Technologies, we are pleased to provide SCSB with the local support and knowledge critical to its acceleration and expansion journey.
- RG Manalac, Head of Sales, Asia Pacific, Adenza.
About The Shanghai Commercial & Savings Bank
The Shanghai Commercial & Savings Bank, Ltd. was established in Shanghai in 1915 with the goal “to serve society, to support industry, and to promote international trade.” It is the premier choice for small- and medium-sized enterprises and is recognized for its efficient trade financing and remittance services.
Together with its subsidiaries Shanghai Commercial Bank Ltd. (SCB) in Hong Kong and AMK Microfinance Institution Plc. in Cambodia, SCSB manages total consolidated assets more than US $75 billion and capital more than US $1.6 billion and has shareholder’s equity more than US $5.5 billion. Its market capital is more than US $7.3 billion as of March 2023.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.