According to the firm, the solution will provide required strength to meet multi-currency, multi-GAAP (Generally Accepted Accounting Principles), multi-market and multi-product valuation accounting requirements.
It will also assist the firm to achieve a holistic view of its portfolio types and increase data accuracy to a more granular level, said SunGard.
SunGard China operations vice president and head Wang Yanqing said CITICS selected SunGard because of its product management strategy, its deep understanding of Chinese and international business and its proven reliability in delivering on-time, on-budget implementations in China.
"For many institutions within the Asia Pacific region, the expanding economy has meant that they need to modernize their technology infrastructure to support and drive growth. SunGard continues to help by providing local expertise and successful implementations of SunGard’s Asset Arena Investment Accounting in China," Yanqing added.
CITIC Securities offers services pertaining to securities brokerage securities investment consulting, financial consulting related to securities trading and securities investment activities, securities underwriting and recommendation and securities asset management.
