CITIC Securities Selects SunGard's Asset Arena Investment Accounting Solution
by SunGard Kiodex 16 May 16:25
May 16, 2012 — Beijing, China
CITIC Securities (CITICS) has chosen SunGard’s Asset Arena Investment Accounting solution as the accounting solution for its asset management business. CITICS, one of the largest securities firms in China, is relying on Asset Arena to help it meet multi-currency, multi-GAAP (Generally Accepted Accounting Principles), multi-market and multi-product valuation accounting requirements. SunGard’s Asset Arena will help CITICS achieve a holistic view of its portfolio types and increase data accuracy to a more granular level.
Wang Yanqing Ph. D, vice president and head of China operations in SunGard’s asset management business said, “CITICS selected SunGard because of our product management strategy, our deep understanding of Chinese and international business and our proven reliability in delivering on-time, on-budget implementations in China. For many institutions within the Asia Pacific region, the expanding economy has meant that they need to modernize their technology infrastructure to support and drive growth. SunGard continues to help by providing local expertise and successful implementations of SunGard’s Asset Arena Investment Accounting in China.”
SunGard’s Asset Arena Investment Accounting helps firms quickly adapt and innovate their businesses to support growth plans by helping them manage the accounting business for both Chinese domestic investment portfolios and QDII (Qualified Domestic Institutional Investor) fund in one system. SunGard’s Asset Arena helps institutions benefit from a more streamlined environment for providing cross-border portfolio valuation.