Mandates and payments roundup, March 1

Deutsche Bank launches new offshore renminbi trading capabilities, while HSBC inks an alliance with Swift and SAP for a new treasury system.

Deutsche Bank launches offshore renminbi trading capabilities

Deutsche Bank has launched offshore renminbi (CNH) trading on Autobahn FX, its global electronic foreign exchange trading platform. The platform is web-based and provides corporate and institutional clients with access to pricing and liquidity.

“CNH is the most significant market development Asia has witnessed in recent years,” said Michele Wee, Asia head of electronic FX and fixed income sales at Deutsche Bank, in a statement. “Adding CNH to Autobahn FX provides corporate clients with an easy, efficient means to meet their CNH trading needs.”

According to Jens Scharff-Hansen, co-head of FX trading for Asia at Deutsche Bank, the addition of CNH to Autobahn FX will help to build market liquidity and assist in the development of CNH as a trade settlement currency.

In other news, Deutsche Bank has been appointed as the depositary bank for the American depositary receipt (ADR) programme of China-based Zuoan Fashion. The casual menswear company is listed on the New York Stock Exchange.

“We welcome Zuoan to Deutsche Bank’s depositary receipts platform and look forward to working with the company on its initiatives to broaden its investor base,” said Akbar Poonawala, head of global equity services at Deutsche Bank, in a statement.

HSBC partners with Swift to create new bank integration and treasury system

HSBC and Swift are cooperating to create HSBC Connect, the bank’s corporate-to-bank integration and treasury solution. The solution is used by corporate clients that use enterprise resource planning (ERP) software from Germany-based SAP. The solution aims to reduce costs associated with maintaining multiple system interfaces and is based on Swift’s open standards.

“The ability to connect seamlessly with not just one bank, but several banking partners, is quickly becoming a priority in the corporate space,” said Marcus Treacher, head of e-commerce at HSBC global transaction banking, in a statement. “As our HSBC Connect to SAP solution evolves, our collaborative approach sets this solution apart from others and allows us to continue to meet the connectivity needs of our corporate customers.”

Working together with Swift and the SAP, HSBC will develop and deploy connectivity products in three main phases: payments and select treasury services, trade finance and remaining treasury services, and regulatory reporting services.

Standard Charted launches new mobile banking application

Standard Chartered has launched a new android mobile banking application for its corporate clients called Cash and Trade Authorisation. The application covers the authorisation of cash and trade functions and, according to the bank, gives corporate treasurers better control over their working capital transactions away from their desks.

“Smartphones are quickly changing the way people do business and manage their needs for financial information and control,” said Thomas Wiles, global head of channel management at Standard Chartered transaction banking, in a statement. “With this launch, we are thrilled to extend the benefit of anytime, anywhere authorisation to our Straight2Bank clients using android devices.”

Straight2Bank Mobile is part of the bank’s fully integrated electronic Straight2Bank platform which provides its corporate and institutional clients with a single point of access for transaction, hedging and information needs across working capital products.

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