About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

China’s CITIC Securities Moves into International Trading with GoldenSource

Subscribe to our newsletter

Beijing-based CITIC Securities has selected GoldenSource to provide a core enterprise data management (EDM) platform to support its move into international securities trading. The first phase of data management will use the GoldenSource Securities & Products solution as the security reference data platform.

CITIC Securities’ expansion into international markets is based on a Qualified Domestic Institutional Investor (QDII) licence obtained from the Chinese government and allowing the firm to invest up to 50% of net assets in foreign securities. QDII status has been available for a couple of years and CITIC is GoldenSource’s third QDII customer in China following contracts with China Asset Management and Bosera Asset Management.

According to Neill Vanlint, managing director of EMEA and Asia-Pacific at GoldenSource, “We started talking to CITIC Securities about a year ago. It had a QDII licence and wanted to invest in foreign securities on behalf of its clients and use them in proprietary trading, but it had little experience of international markets. It is pretty much a greenfield site and has adopted a best-of-breed approach to building a platform for international trading.”

While international trading is the first role for the GoldenSource 360 EDM platform, CITIC Securities intends to migrate all its domestic operations to the platform, as well as its brokerage and investment banking activities. “Ultimately, CITIC Securities wants to be an investment bank in global markets,” says Vanlint.

At CITIC Securities, vice president Paulson Wang says: “We recognise integrated EDM as a critical underpinning to growing current operations as well as enabling us to manage both Chinese domestic market data and international market data in support of our growing QDII business. The GoldenSource 360 EDM platform has proven scalability across multiple lines of business, geographies and products, which is ideal to support our aggressive growth plans.”

The GoldenSource contract was signed about a month ago and work has started to put the platform in place and initially integrate Bloomberg data before adding further data sources. While this is happening, CITIC will choose other elements of a complete system such as order and execution management systems, and risk and compliance components. These will be integrated with the EDM platform. The first phase of the platform is expected to be in production in the third quarter and trading is scheduled to start before the end of the year.

With data management as the foundation layer of the international trading system, CITIC Securities hopes to deliver efficient straight-through-processing, strong risk management based on robust central data management and good decision making based on timely, quality data.

“CITIC Securities is part of a growing group of leading Chinese financial institutions that are adopting standardised reference data repositories to solve performance, risk and customer reporting related issues,” says Vanlint. Reflecting cultural sensitivities, GoldenSource has established a permanent presence in Beijing and is using a local team to implement the CITIC Securities platform.

Vanlint says the company is talking to a number of Chinese companies in the investment industry and also to insurance companies about the potential of its EDM platform. It then hopes to extend its business in China into traditional broker and custody organisations. Other market hotspots identified by GoldenSource include the US, Australia, Russia and Italy, with new client types including exchanges, regulators and federal banks.

Subscribe to our newsletter

Related content

WEBINAR

Upcoming Webinar: ESG data sourcing and management to meet your ESG strategy, objectives and timeline

Date: 11 June 2024 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes ESG data plays a key role in research, fund product development, fund selection, asset selection, performance tracking, and client and regulatory reporting, yet it is not always easy to source and manage in a complete, transparent and timely manner....

BLOG

Duco Acquires Unstructured Data Management Specialist Metamaze

Duco, a provider of SaaS AI-powered data automation, has acquired Metamaze, an Antwerp, Belgium-based company offering an AI-driven intelligent document processing SaaS platform that automatically processes, extracts and interprets information from any type of unstructured document. By combining the Metamaze and Duco platforms, customers can ingest any type of data from any type of document...

EVENT

AI in Capital Markets Summit London

The AI in Capital Markets Summit will explore current and emerging trends in AI, the potential of Generative AI and LLMs and how AI can be applied for efficiencies and business value across a number of use cases, in the front and back office of financial institutions. The agenda will explore the risks and challenges of adopting AI and the foundational technologies and data management capabilities that underpin successful deployment.

GUIDE

Regulatory Data Handbook 2023 – Eleventh Edition

Welcome to the eleventh edition of A-Team Group’s Regulatory Data Handbook, a popular publication that covers new regulations in capital markets, tracks regulatory change, and provides advice on the data, data management and implementation requirements of more than 30 regulations across UK, European, US and Asia-Pacific capital markets. This edition of the handbook includes new...