Standard Chartered Implements Global Risk Management Infrastructure

Strategic Insights -

Standard Chartered Bank, one of the first banks in the world to implement a new data repository system, has partnered with Sun Microsystems, Informix, and TIBCO Finance Technology Inc. to build an IT infrastructure for global treasury applications. The system, which has received orders worth over 4 million pounds, aims to provide effective risk management and consolidated reporting across global operations. The new infrastructure will enable the bank to see its total global exposure to market and credit risk, ensuring it does not trade beyond the positions covered by its available capital.

Key Takeaways:

  • Standard Chartered Bank has partnered with Sun Microsystems, Informix, and TIBCO Finance Technology Inc. to build an IT infrastructure for global treasury applications.
  • The system has been implemented in three hubs: London, Hong Kong, and Singapore, with six spokes in Malaysia, Dubai, New York, India, Indonesia, and Thailand.
  • The infrastructure includes a real-time data repository using Informix Dynamic Server running on Sun Microsystems' Enterprise Servers and TIBCO's ETX enterprise-wide guaranteed delivery messaging system.
  • The system is designed to provide high availability and resilience, with the ability to support both dissemination and analysis of internal trading information and extranet-based communication with clients in the future.
  • The implementation of the system is a key element in meeting the needs of financial regulators for more effective risk management and consolidated reporting across global operations.
  • Carl Ricketts, group head of IT infrastructure at Standard Chartered Bank, emphasized the importance of building a real-time data repository and messaging architecture to meet the increasing demands of global competition and new regulatory requirements.
  • Sabha Saint-Claire, business solutions manager, Global Treasury IT at Standard Chartered Bank, highlighted the consortium's ability to provide proof of concept and meet the bank's tight deadlines.

Statistics:

  • Orders worth over 4 million pounds have been received for the new infrastructure.
  • Three hubs (London, Hong Kong, and Singapore) and six spokes (Malaysia, Dubai, New York, India, Indonesia, and Thailand) will be part of the infrastructure.
  • The system will use Informix Dynamic Server running on Sun Microsystems' Enterprise Servers and TIBCO's ETX enterprise-wide guaranteed delivery messaging system.
  • The implementation is the first phase of a number of identified stages of development, with the ultimate goal of creating a global Treasury hub that can support both dissemination and analysis of internal trading information and extranet-based communication with clients.

Sources:

  • Business Wire, "Standard Chartered Implements Infrastructure for Global Risk Management," February 18, 1998.
  • Press Release from Standard Chartered Bank and TIBCO Finance Technology Inc.