IBS Journal July 2016


19


WHO? CRESTONE WHAT? AVALOQ BANKING SUITE


wing of UBS Australia, has gone live on Avaloq Banking Suite. The firm opened its doors during June, with Avaloq’s solution powering its back, middle and front office processes. Crestone chose it due to its “innovative and scalable technology.”


C


(CFETS) has chosen ICAP to deliver the underlying technology for fixed income and foreign exchange (FX) electronic execution services in mainland China. The technology will be delivered by EBS BrokerTec, ICAP’s electronic FX and fixed income business, which will form part of NEX Group, following the completion of the transaction with Tullett Prebon to dispose of ICAP’s global hybrid broking and associated information businesses.


C


CFETS, China’s official inter-bank market trading platform and infrastructure provider, has been planning its “Next Generation Trading System” (NGTS) for a number of years. The deal with ICAP, valued at $65 million over a three-year period, will see EBS BrokerTec establish a local office and development centre in Shanghai.


CFETS and ICAP have worked together for more than nine Scott Thompson


Crestone is the second Australian financial institution to go live on an Avaloq solution. The employee-owned firm


restone, the former wealth management


has around 170 staff at offices in Brisbane, Melbourne and Sydney. Mike Chisholm, CEO at Crestone, comments: “The appeal of working with Avaloq is its ability to support a genuine global investment universe. It is future ready technology and there us a commitment to continued development of the IT software. We fundamentally see technology as a driver towards providing the best client experience possible and becoming more efficient.”


Alex Hamilton WHO? CFETS WHAT? ICAP TECH


hina Foreign Exchange Trade System


years since the founding of a Shanghai joint venture to provide broking and information services in the onshore and offshore interbank foreign exchange, money market, bond and derivatives market.


“The introduction of technology from EBS BrokerTec is an important part of this project. The platform architecture conforms to the latest standards and has been approved by external technology experts. With acquired intellectual property and source code, our technology platform will be greatly enhanced and strengthened,” says Xu Zaiyue, Executive Vice President of CFETS. “I am glad that as our partner, EBS BrokerTec is helping us to achieve our goal. I firmly believe NGTS will become one of the most important infrastructures of China’s RMB market and provide strong and steady support to the development of China’s inter- bank market and globalisation of the RMB.”


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