Payment news, July 20

Pansoft and Imagine Software sign mandates with Chinese companies, while investors can now access Tullet Prebon data through SunGard.

USE chooses solutions from two software providers

The United Stock Exchange of India (USE) has selected solutions offered by Marketplace Technologies and Omnesys Technologies, both front office trading solution providers in India. Not only will both providers offer standard exchange front end trading software, but members of USE will have the flexibility of obtaining the software directly from the two companies.

"USE is pleased to announce the empanelment of Omnesys Technologies and Marketplace Technologies as independent software vendors," said TS Narayanasami, chief executive and managing director of USE, in a statement. "The vendors will help us in providing easy access to the USE trading platform for the member community, thus enabling more liquidity and participation."

Marketplace Technologies is a wholly owned subsidiary of the Bombay Stock Exchange and USE owns 26% of Omnesys Technologies through one of its subsidiaries.

Pansoft wins mandate from PetroChina

PetroChina, the largest oil and gas producer and distributor in China, has appointed Pansoft, an enterprise resource planning system service provider for the oil and gas industry, to develop and install a treasury management system.

"I am delighted that PetroChina has decided to continue its successful partnership with Pansoft on such a critical software platform design, implementation and training programme," said Guoqiang Lin, chief executive of Pansoft, in a statement. "The signing of this contract with PetroChina marks another great step for Pansoft through the development of a large-scale treasury management system, which further enhances our leadership and expertise in the oil and gas industry in China."

The mandate is worth around $1.76 million and the project is expected to take about three years to complete. According to Pansoft, the treasury management system under development will incorporate all of PetroChina's subsidiaries, enabling the management of all its resources under one common platform.

China Merchants Securities chooses solution provided by Imagine Software

Imagine Software, a provider of real-time portfolio and risk management solutions, has been chosen by China Merchant Securities (CMS) to manage its international securities business.

"We have a very broad approach to trading securities that extends far beyond mainland China," said Steve Luo, associate director of risk management at CMS, in a statement. "For this reason it was essential to find a risk management system that covered all asset classes, calculated Greeks in real-time and had the capacity to handle derivatives trading."

CMS trades a diverse range of products including cash equities, index futures, index and equity options and warrants. In a move to migrate from a legacy management system to a robust, real-time, multi-asset class solution, CMS selected Imagine Software's ASP-based derivatives.com service for its 71 branches in China.

Tullett Prebon market data now distributed through SunGard

Asian money market data provided by Tullett Prebon, a global inter-dealer broker, can now be distributed through SunGard's MarketMap real-time market data solution. MarketMap users will be able to access and use Tullett Prebon's data to help make investment decisions in Asia.

"Tullett Prebon Information's proprietary pricing data, generated from Tullett Prebon's global brokerage business is an invaluable content source for financial firms in their trading activities," said Andrew Reeve, Asia-Pacific regional manager at Tullett Prebon Information, in a statement. "SunGard's MarketMap is an excellent new distribution channel for our Asian market data that will help financial firms broaden their scope of investment activity in the region."

According to SunGard, there is an emerging need for access to and analysis of Asian market data as cross-market trading increases and more global financial firms seek investment opportunities in Asia.

¬ Haymarket Media Limited. All rights reserved.

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