Bank of Singapore, the Asian global private bank, has licensed Spectrum, the system by Financial Software Systems, to act as its new global collateralised trading service for foreign exchange, FX options and non-deliverable forwards.

The system will be used in the firm’s Singapore and Hong Kong branches, and will be used for front-office and middle-office processing, including deal capture, real-time margin limits and exposure management, as well as multilingual confirmations and consolidated customer statements.

Bank of Singapore was formed in 2010 by combining the former ING Asia Private Bank and the private banking business of OCBC Bank, the latter of which wholly owns the Singaporean private wealth firm.

Financial Software Systems provides integrated wealth management, treasury and capital markets software.