Press release
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
About this update from Nasdaq, Inc.
[{"type":"text","content":"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.\n 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.\n 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.\n 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.\n 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 f...