• Misys Banking Systems extends its broad coverage of post-trade automation to Precious Metals
• For the first time, the full lifecycle of multi-instrument transactions can be managed via a secure, reliable, confidential portal
London/New York – 12th December, 2005 – Misys Banking Systems (Misys) today announces that it has added Precious Metals functionality to the suite of transaction services in its integrated treasury portal, Misys Treasury Plus. For the first time proactive control of the full lifecycle of multi-asset class trade activity, including Precious Metals, is available by logging into a single secure, easy-to-use, resilient system.
Within minutes of MT 600 messages (SWIFT Precious Metals Confirmation messages) being generated by both counterparties, the trade is automatically matched using Misys Treasury Plus real-time confirmation matching engine. This enables customers to see the matching results of any deal instantly and significantly reduces the operational and settlement processing risk associated with manual confirmation processing.
Most market participants agree that automation is the best way the industry can tackle risk, in addition to supporting anticipated future volume growth. Until today, multi-bank automated confirmation matching systems have been unable to provide post-trade services that included Precious Metal trades.
The rise in Precious Metals trading is starting to overwhelm operations departments. Outstanding confirmations have become more and more cumbersome to deal with manually, and when confirmations are outstanding, risk is created. Another critical reason firms want to automate is the need to reduce costs.
“We develop enhancements to Misys Treasury Plus in close consultation with our customers,” comments Mark Davies, CEO of Misys Global Managed Services. “We are very pleased to enhance our capabilities further by providing STP (straight-through-processing) and automation of Precious Metals post-trade processes. Automation meets the market need of trading across multiple asset classes while still having one integrated platform to control operational and settlement risk. We will continue to work with our customers to ensure that they can focus on running their business while we provide the tools to support it,” adds Davies.
-Ends-
For further information please contact:
Mark Davies
CEO
Misys Global Managed Services
+1 845-501-0781
mark.davies@misys.com
Edward Taylor
Global Head of Public Relations
Misys Banking Systems
+44 (0) 208 486 1661
edward.taylor@misys.com
About Misys Banking Systems
Misys Banking Systems supplies over 1,200 customers in over 120 countries, among them 49 of the world's top 50 banks, 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 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 Misys is one of the top four software providers worldwide and the largest outside the US, with over 1,200 customers, including 49 of the world’s top 50 banks. In healthcare Misys is a top five software provider in the US market, serving more than 92,000 physicians in 18,000 practice locations, 1,250 hospitals and 600 home care providers. In UK general insurance Misys is the market leader in software solutions. Through Sesame, a wholly-owned subsidiary, the company is also a leading provider of support services to over 8,000 financial advisers in the UK. Misys employs over 6500 people who serve customers in more than 120 countries. For more information, visit www.misys.com
Misys. Making things that really matter, work better.
