Trade finance solution provider MIT has opened an office in Singapore.

The office will act as a regional hub for Asia Pacific and it follows the news that the Singaporean bank OCBC is to implement MIT’s Trade Risk Active Control collateral management system.

The company also has a relationship with Natixis in Asia and it hopes that this office will help further those relationships as well as expand its footprint in the region.

Jean-Luc Spinardi will head the Asian operations as regional Asia Pacific manager. He is responsible for promoting products throughout the region, and says:“I am very excited with this new challenge, and I am confident MIT’s expertise in trade commodity finance will help our company to be successful in Asia, and especially in Singapore, the largest commodity trade finance hub in the region.”

Swiss company MIT (which stands for Micro Informatique & Technologies) also works currently with a number of banks in Europe, namely UBS, Sberbank and BCGE of Switzerland. Its head office is based in Bussigny.