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Wolters Kluwer: chosen by Chinese bank for special software.

(CercleFinance.com) - China Merchants Bank has chosen Wolters Kluwer as the provider of regulatory reporting software for its operations in Luxembourg, the Dutch specialist publisher said on Thursday.

Following a call to tender, the Chinese financial group selected OneSumX for Regulatory Reporting as a single source of data to ensure consistency, reconciliation and accuracy.

This service is maintained by experts who actively monitor regulation in approximately 50 countries, Wolters Kluwer said.

CMB has over 1,800 branches in mainland China, with global consolidated assets exceeding 897 billion dollars. Its Luxembourg entity is its European hub for the development of further business in Europe.

In a separate press release, Wolters Kluwer said that its treasury stock has reached 8.7 million, or 3.01% of total ordinary shares, after the company's recent share buyback.

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