The Hong Kong banking business of Industrial and Commercial Bank of China (ICBC), ICBC (Asia) is to implement SuperDerivatives' solution across the bank to support its FX and interest rates derivatives activity.

The system provides multi-asset coverage, designed to enhance the productivity in derivatives and inspire user confidence by generating transparency.

Edmund Lai, head of treasury and markets at ICBC (Asia), said: "Our clients are now looking for more detailed and timely information on the products they buy. With accurate and real-time pricing power, SD will allow us to customise new products and to explain them clearly to clients so that they have a full understanding of what they are buying and the associated risks."

Dr. David Gershon, chief executive of SD, explained why banks are turning to technology investment in the current market. He said: "Banks need to differentiate themselves even more clearly now as the market becomes increasingly vanilla. End investors, whether corporate or retail, are approaching derivatives with more caution and need a clear understanding of what they're buying."