Breaking News
MUFG rolls out MIT’s TRAC Collateral management system
MIT (Micro Informatique & Technologies SA) is pleased to announce that Mitsubishi UFJ Financial Group, Inc. (MUFG) has successfully gone live with MIT’s TRAC (Trade Risk Active Control) system. TRAC is a Collateral Management solution supporting Structured Trade Commodity Finance.
The project started at the end of 2017, after MIT was selected by MUFG following a competitive process to support its Commodity Trade Finance team in London, with a view to potentially implementing it globally in a second stage.
Jean-Marie Le Fouest, Head of Commodity & Structured Trade Finance EMEA said: “We’ve strongly increased the business over the past two years, and it was vital for us to adopt a robust system to support our significant growth”.
Paul Cohen Dumani, MIT’s General Manager declared: “We’re happy to welcome such a prestigious reference in our community of users” adding that “TRAC’s true multi-branch and multi time-zone architecture will be key, when MUFG decides to roll out the system globally”.
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