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HONG KONG & PARIS, December 13, 2024--(BUSINESS WIRE)--Please replace the release issued November 13, 2024, at 8:54 a.m. ET with the following corrected version due to "Bank of Shanghai" being replaced by "Bank of Shanghai International (BOSCI)" throughout the release.
The updated release reads:
BANK OF SHANGHAI INTERNATIONAL (BOSCI) CHOOSES LINEDATA'S GLOBAL HEDGE SOLUTION TO IMPROVE REPORTING CAPABILITIES
Linedata’s innovative solution enhances efficiency and value for one of China’s leading banks
Linedata (Euronext Paris: LIN), a global provider of asset management and credit technology, data, and services, today announces the successful implementation of its Linedata Global Hedge solution for the Bank of Shanghai International (BOSCI). The solution was selected to drive efficiency, value, and enhanced service, especially to improve portfolio management and calculations. BOSCI decided to switch to Linedata Global Hedge to balance cost and value. The transition was completed in Q1 of this year.
The senior management from BOSC International Company Limited, a local Chinese investment bank in Hong Kong, said, "Switching to Linedata Global Hedge was the right move for us at this time. We were looking for a solution that offered long-term value and service, and Linedata's local expertise, combined with their support teams fluent in multiple languages, made them the ideal partner. The implementation has been smooth, and we are already seeing the benefits in terms of efficiency and accuracy."
"We are delighted to welcome the Bank of Shanghai International (BOSCI) to our growing family of clients in the APAC region," added Sally Crane, Managing Director of Linedata Asia. "Our local presence, combined with teams fluent in Mandarin, Cantonese, and English, allows us to meet the unique needs of large Chinese banks. We have supported Chinese asset managers for many years, and our deep understanding of their specific requirements ensures we deliver solutions that provide real value."
Linedata Global Hedge solution offers the Bank of Shanghai International (BOSCI) flexible reporting capabilities and superior integration with third-party data platforms commonly used by Chinese asset managers, such as Bloomberg. This integration also facilitates more accurate calculation of the Net Asset Value, enhancing the precision of their investment book of records.
One of the key benefits of Linedata's solution is its ability to support complex fixed income functionalities, including intricate fixed income products. This capability is critical for large financial institutions like BOSCI, ensuring they can manage their portfolios with greater accuracy and efficiency. The automated reporting processes enabled by Linedata are particularly valuable for Chinese banks with large structures as it allows them to save significant time, provide more accurate data, and enable quicker access to vital information, streamlining operations and enhancing decision-making.