Payment news, August 31

HKMA appoints HSBC and Calypso for US dollar clearing and cash management. BNP Paribas implements a payment solution from Clear2Pay, and Tokai Tokyo Securities selects a trading platform provided by Fidessa.

HKMA chooses HSBC and Calypso

The Hong Kong Monetary Authority (HKMA) has appointed HSBC as the settlement institution for its US dollar clearing system. The five-year appointment is the third time that HSBC has been selected by HKMA for its clearing system.

“We remain committed to the continued development of the financial infrastructure in this region, especially with increasing cross-border payments across Greater China and within Asia,” Michael Velez, HSBC’s Hong Kong head of product management for global payments and cash management, said in a statement.

HKMA has also implemented Calypso’s full front-to-back trading and treasury management system. Calypso’s system will leverage functionality for many front-to-back office tasks, such as accounting, cash management, compliance, enterprise risk, pricing, risk management, settlement and valuation, and help increase the competitiveness and efficiency of Hong Kong’s reserves.

BNP Paribas implements Clear2Pay payment solution

BNP Paribas has implemented a single payments management platform from Clear2Pay’s Open Payment Framework. The solution will be implemented in 13 countries in Asia. The regional payment hub will operate from Singapore which will initially handle all payment requirements for Korea, Taiwan, Thailand and Vietnam.

“As we were working on this initial project, whereby supporting local languages was key, it soon became apparent that we could gain additional benefits from the Open Payment Framework approach. Implementing this framework will give us a consolidated view of all payment transactions handled by each country in Asia-Pacific,” said Detlef Von-Eiff, BNP Paribas’ Asia-Pacific chief information officer, in a statement. “This project is of strategic importance to the group and it will be vital in driving our Asia-Pacific cash management business forward in a region which continues to demonstrate a high level of activity and economic growth.”

Tokai Tokyo Securities selects trading platform from Fidessa

Tokai Tokyo Securities, a domestic Japanese broker headquartered in Nagoya, has chosen Fidessa’s software-as-a-service trading platform for equities and derivatives. This new trading platform will allow Tokai Tokyo Securities to increase efficiency in its trading business and the effectiveness of delivery to its clients.

“Fidessa’s trading platform has a strong reputation here in Japan, and its high performance capabilities and power functionality make it highly suitable for us,” said Takashi Matsumura, general manager of the equity department at Tokai Tokyo Securities, in a statement. “We are planning to provide more high quality execution services to institutional clients using the Fidessa platform, including algorithmic trading. In addition, we will also try to expand our offshore client base as a member of Fidessa’s global network community.”

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