SYDNEY and HONG KONG, Oct. 9, 2015 /PRNewswire/ -- GBST Holdings Limited (ASX: GBT), "GBST", a global provider of securities transaction and fund administration software for the financial services industry, announces today that it has entered into an agreement to provide Haitong International Securities Group Limited ("Haitong International", Stock Code: 665.HK) an institutional middle office solution utilising GBST's award winning Syn~ platform. This implementation is expected to go live by the end of 2015.
Donal O'Brien, CEO Asia - GBST said: "We are thrilled to be working with Haitong International, one of China's leading financial institution, as part of their international business expansion. Through GBST's Syn~ platform, Haitong International will further enhance their existing process to better handle significant trading volumes with a low-latency matching and confirmations capability".
"Haitong International continues to expand and develop new business lines. A key component of this is the adoption of internationally accredited systems such as GBST Syn~", said Andrew Sullivan, Managing Director of Sales Trading, Haitong International. "We believe that GBST's middle-office will allow us to respond to market changes and increased customer demands in an efficient and timely manner."
The GBST Syn~ application is a rules-based, workflow-driven solution that allows easy integration with existing systems. It is designed to provide high automation across the full range of middle and back-office operations, achieving streamlined operations with reduced risk and cost.
"This contract with Haitong further demonstrates our commitment to the Asian region", said Denis Orrock, CEO of GBST Capital Markets. "GBST has a long history providing solutions to Global Investment Banks within the region, working with Haitong International is representative of our strategy to leverage our international experience and engage within local and regional market participants."
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About GBST - www.gbst.com
GBST (ASX: GBT), provides global technology services to the financial services industry, addressing our clients' constant needs for innovation, competitiveness and responsive IT that truly enables business. Listed on the Australian Securities Exchange, GBST is headquartered in Brisbane and has offices throughout Australia, in Hong Kong, Singapore, Vietnam, London and New York.
Haitong International Securities Group Limited
Haitong International Securities Group Limited ("Haitong International"; Stock Code: 665.HK) is an international financial institution with established presence in Hong Kong and a rapidly expanding network across the globe. It strives to serve as a bridge linking up the Chinese and overseas capital markets. Haitong International is a subsidiary of Haitong International Holdings Limited, a company incorporated in Hong Kong and wholly owned by Haitong Securities Co., Ltd. ("Haitong Securities", Stock Code: 600837.SH; 6837.HK).
To date, Haitong International has developed a business structure featuring six core business segments, namely corporate finance, brokerage and margin financing, asset management, fixed income, currency and commodities (FICC), leveraged and acquisition finance as well as equity derivatives, offering a full range of premium financial products and services to over 180,000 corporate, institutional and retail clients worldwide. Haitong International possesses a sound risk management system that is in line with international standards. In 2014, it became the first Chinese financial institution in Hong Kong to have been assigned a "BBB" long-term credit rating by Standard and Poor's.
Haitong International has 14 branches in Hong Kong and Macau and a representative office in each of Beijing and Shanghai. In 2014, Haitong International quickened the pace of overseas expansion by establishing its Singapore subsidiary. It also completed the acquisition of Japaninvest Group plc in March of 2015, setting up a financial servicing network covering the world's major capital markets including Hong Kong, New York, London, Tokyo.
For further information, contact:
GBST
Donal O'Brien
Chief Executive Officer, Capital Markets, Asia
Tel: +852 3184 4001
Email: Donal.OBrien@gbst.com
