Agreement delivers Misys Treasury customers access to Hotspot FXi's leading foreign exchange marketplace
London/New Jersey, 5th September 2005 - Misys Banking Systems (Misys), today announces that Misys Global Managed Services, its market leading front-to-back treasury services arm, has signed a strategic partnership agreement with Hotspot FXi.
The partnership enables the integration of Hotspot FXi's foreign exchange marketplace with Misys' integrated treasury services portal (Misys Treasury) to deliver transaction and application services to over 4,000 treasury professionals worldwide. Misys Treasury customers will be able to access Hotspot FXi's marketplace in which FX market clients buy and sell currencies directly and anonymously with each other and leading FX banks.
R. Keith Lite, Director of Business Development, Hotspot FXi, comments: "We have seen tremendous interest from the treasury groups of multinational corporations and asset managers in trading foreign exchange via Hotspot FXi's transparent electronic marketplace. Integrating our platform with the Misys treasury platform creates a robust solution for treasury clients seeking FX best execution and comprehensive post-trade functionality."
Mark Davies, CEO, Misys Global Managed Services, states: "We are dedicated to the delivery of best-of-breed treasury services. The Misys Treasury platform is the industry leader in innovative trading, confirmation, settlement, and cash management. Our partnership with Hotspot FXi enables us to expand clients' access to foreign exchange liquidity providers so that their FX trading performance can be optimised. We look forward to working together to deliver seamless, transparent, leading edge treasury services."
Under the terms of the agreement, the two companies will provide integrated access to the trade and post-trade services of their respective platforms. Additionally, each will offer the other's services to existing users, and will engage in joint market initiatives for new business.
-ENDS-
For further information, please contact:
Edward Taylor
Financial Dynamics
+44 (0) 20 7269 7295
edward.taylor@fd.com
Mark Davies
CEO
Misys Global Managed Services
+1 (845) 501-0701
mark.davies@misys.com
Peter Burton
Global Head of Marketing
Hotspot FX, Inc.
+ 1 908 322 2914
pburton@hotspotfx.com
About Misys Banking Systems
Misys Banking Systems supplies over 1,400 customers in 134 countries, among them 90% of the world's top 50 banks (Source: The Banker, July 2004), with software and solutions for retail banking, wholesale banking, treasury and capital markets and risk management. It has 2,600 people around the world, over 70% of whom are outside of the United Kingdom, and sales, implementation and customer support teams in over 28 countries. Misys Banking Systems is part of Misys plc.
About Misys Global Managed Services
Misys Treasury is one of the world's most established, widely-accepted, and trusted treasury service. It combines technological expertise with in-depth understanding of customers' needs to deliver end to end solutions that maximize efficiencies and help reduce risk. Misys Treasury is a fully-featured treasury platform - incorporating multi-bank trading, confirmation matching, cash management, and reporting services, all accessible via a single portal. Whether you are a corporation, investment manager, or financial institution, Misys Treasury has the domain expertise to deliver state-of-the art services that are most valuable to you.
About Misys plc:
Misys plc (FTSE: MSY), the global software company, is one of the world's largest and longest-established providers of industry-specific software. Founded in 1979, Misys serves the international banking and healthcare industries and the UK general insurance industry, combining technological expertise with in-depth understanding of customers' markets and operational needs.
In banking it is one of the top four software providers worldwide and the largest outside the US, with a client base that includes 90% of the world's top 50 banks. In healthcare it is a top five software provider in the US market, serving more than 92,000 physicians in 18,000 practice locations, 1,250 hospitals, 600 home care providers. In UK general insurance it is the market leader in software solutions. Through Sesame, a wholly-owned subsidiary, it is also a leading provider of support services to 7,600 financial advisers in the UK. Misys employs over 6000 people internationally and has customers in over 120 countries. For more information, visit www.misys.com
About Hotspot FX, Inc.
Hotspot FX, Inc., which marks its fifth anniversary in 2005, operates the two leading spot FX marketplaces for institutional and retail market participants respectively. Both marketplaces support client bidding and offering and anonymous, instantaneous, direct-access trading on live, executable, prices streamed by leading foreign exchange banks and financial institutions. Trades executed on Hotspot FX, the company's regulated platform, are cleared through its US-registered futures brokerage. Trades executed on Hotspot FXi, Hotspot FX, Inc.'s institutional marketplace, are cleared through a network of top-rated clearing banks and prime brokers. Hotspot FXi participating financial institutions include AIG Financial Products, ABN-Amro, ANZ, Bank of America, Barclays, Bear Stearns, BNP Paribas, Dresdner Kleinwort Wasserstein, Fimat, HSBC, HvB, JPMorgan, Royal Bank of Scotland, Societe Generale, West LB, UBS and other leading banks.
Hotspot FXi was the top-rated Multibank Platform in the 2005 Euromoney Foreign Exchange Survey in the key Speed of Execution and STP categories. In addition, Hotspot FXi was voted Best in Automated Streaming Prices in the 2005 Euromoney Internet Technology Awards.
Hotspot FX provides connectivity to trade and order management systems, market data vendors and other platforms via its LiveLinksm proprietary API, which supports the firm's FIX gateway as well as other connectivity protocols. Hotspot FX's live foreign exchange marketplaces are available, or will soon be available, via leading trading and order management systems from Trading Technologies, Townsend Analytics, FlexTrade Systems, Inforeach, and Portware. Hotspot FX market data is available from providers e-Signal, FutureSource, DTN Market Access, and Bloomberg L.P.
Hotspot FX is headquartered in Watchung, New Jersey, a suburb of New York City, with offices in Boston, Chicago, Singapore, Beijing, and London.
Hotspot FX is a registered service mark and LiveLink a service mark of Hotspot FX, Inc.
