China banks sign up with Orange Business Services' electronic trading infrastructure
By Enterprise Innovation Editors | 2011-04-11
China Minsheng Banking Corporation (CMBC) and Evergrowing Bank have recently deployed Orange Business Services’ trading infrastructure and services platform in their respective Shanghai offices.
Trading Solutions was tasked with creating the trading floors from scratch. They developed the entire trading floor layout and design to ensure the most effective trading process provided and sourced all other technology and furniture, managing the projects from start to finish and were the single point of contact for the client.
The banks required new, modern and most importantly fast and up-to-date technology. Both customers bought a turnkey trading room project through Trading Solutions including the original interior design, its dealing platforms, voice recording systems, power and data cabling along with all necessary furniture such as dealing desks, chairs, dealing keyboards, tailor made cabinets, lighting system, oil paintings and clocks. Evergrowing also enhanced its new trading floor with the addition of a Cisco network system, HP blade servers and CCTV.
The CMBC trading room is now equipped for 50 traders whilst Evergrowing’s can handle 45. Having Trading Solutions manage the whole project was more cost effective than sourcing the materials individually. They were able to deal with the suppliers in the local language and will provide onsite maintenance, accountability and service support should it be required. The projects turnaround was just 12 weeks from the contract being signed and went live in October 2010.
“Orange Business Services - Trading Solutions handled external suppliers on our behalf saving us a huge amount of time so our staff could focus on business rather than setting up the trading room and managing the logistics,” said Mr Chi Dexian, general manager of financial marketing, Evergrowing Bank. “We approached other providers but none could offer the turnkey solution for a trading floor that Orange Business Services - Trading Solutions does and the quick turnaround on its part was very impressive,” added Mr Yang Yue, vice president of financial marketing, CMBC.
“Delivering this project couldn’t have gone better. China has seen real growth over the last year and we expect to see more customers coming to us for a similar solution in this region,” said David Guérineau, VP for Asia Pacific, Orange Business Services - Trading Solutions. “Trading is our area of expertise and no other provider could deliver such a comprehensive service for CMBC and Evergrowing in such a short space of time and within budget.”