Bank of China International chooses Sophis

BOC International Financial Products, a division of Hong Kong-listed Bank of China International, has selected risk management software company Sophis to support the front, middle and back office of its new derivatives unit.

BOC International Financial Products will implement the Sophis Risque system for its derivatives desk, which started operations earlier this month. The 11-strong team will eventually offer equity options, equity-linked notes, warrants, convertible bonds, fixed income, credit default swaps and asset swaps.

“After reviewing the different systems available on the market, we identified Sophis Risque as the only solution capable of providing the derivatives functionality we needed to initiate our business from scratch,” said Warren Kwan, head of BOC International Financial Products in Hong Kong, who joined the group from Deutsche Bank last February to get the derivatives operation off the ground. “Although we will be trading simple products at the beginning, Risque’s excellent coverage of complex instruments in equities will accompany the growth of our activity.”

Bank of China International is a wholly owned subsidiary of the Bank of China, headquartered in Hong Kong.