Synapse Technologies Pte Ltd., a subsidiary of Singapore Technologies, and FNX Limited have launched a new trading portal called PrismLight. The 70:30 joint venture commenced trading with a soft launch in November. Participants included nine Singapore Technology relationship banks: Australia and New Zealand Banking Group, Bank of America, Commerzbank, Citibank, Hongkong and Shanghai Banking Corporation, Chinese Banking Corporation, Standard Chartered Bank, Skandinaviska Enskilda Banken and Societe Generale, as well as 4 ST Group companies: ST Treasury Services Limited, ST Assembly and Test Services Limited, ST Engineering Limited, and Chartered Semiconductor Manufacturing Limited. PrismLight’s proprietary application, the ‘Treasury Hub,’ will be offered with FNX’s Sierra ASP product to provide a full range of straight through processing capabilities, from requests for quotes through to deal entry, risk management and accounting. PrismLight members may request prices electronically from multiple banks and from other members for foreign exchange spot, forwards, NDFs, swaps, and money markets transactions.
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