China Re Asset Management Company Ltd. (CRAMC) awarded a contract to Sophis to implement Sophis VALUE, its flagship buy-side system.
CRAMC is the asset management arm of China Reinsurance (Group) Corporation.
This is the first mainland Chinese insurance company to adopt a fully integrated Straight Through Processing (STP) system, which offers a centralized, user-friendly and automated platform overseeing all investment transactions. Under the agreement, 50 percent of the team at CRMAC will utilize the VALUE system during the first stage of implementation.
In a statement, Rong Zhiping, Party Committee member for CRAMC, said, “To support our pioneering products and diversified asset classes over the coming years, we are looking not only for a system bridging international and local markets, but also a single highly integrated platform that will be used by every team member, from top management to front-line staff. And Sophis successfully won our vote as the clear industry leader in providing such a solution.”
Sophis is celebrating its second strategic win in China, one of the world’s fastest growing countries, noted Corinne Grillet, COO of Sophis Asia in the release, citing the company’s track record in the asset management industry, and flexibility and fully integrated nature of VAL E as the winning factors.
Sophis opened an office in Beijing in 2009, located in the New Poly Plaza, Central Business District, Beijig and is expanding its team of sales and consulting professional to service its new clients in China.
Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio