25th October 2006 - Misys Banking Systems, a global leader in banking software and solutions, announces today that China Zheshang Bank (CZB), the commercial bank in Zheijang province of China, has gone live with market leading Misys Opics and its risk management module, Misys Opics Risk. This builds upon Misys' existing relationship with CZB following the banks decision to implement the treasury management solution, Misys Opics, in 2005 which fulfilled multi-asset class coverage for trading, risk and operations.
Misys Opics has given the bank a single STP system for its treasury function to provide automation, while Misys Opics Risk brings market-leading risk management capabilities to the bank. The Misys solutions for CZB have been rolled out throughout 2006 from the front office to the back office, with the final stage of the roll out of Misys Opics Risk programme lying in the middle office going live in September 2006.
The bank is using Misys Opics Risk for cashflow analysis, stress testing and Riskmetrics VaR reporting as well as profit and loss analysis. The leading edge solution also gives CZB excellent functionality in money market trading covering Repo, FI, and Forex.
CZB was opened in August 2004 with registered capital of more than 1.5bn yuan (US$181.2). It was formed based on the restructuring of Zhejiang Commercial Bank, which predominantly provided off-shore banking services.
Mr. Shen Bin, the CRO of the Treasury department CZB, comments, "This is an exciting time for our bank, and the Chinese banking market. Our choice of Misys software to help with our treasury functions was a natural one. Misys Opics is well established in the sector and well regarded in our region. Having been implemented rapidly, it will help us maintain our position as a key player in the market."
"The Misys solutions give us advanced functionality and flexibility that answer our trading needs perfectly. As we continue to grow and consolidate our place within the Chinese banking market we are sure our partnership with Misys Banking Systems will prove invaluable."
Murray Sargant, Managing Director, Treasury & Capital Markets Asia, Misys Banking Systems, adds: "The Chinese banking industry is seeing unprecedented growth. Misys Opics and the risk management module will help China Zheshang Bank to keep pace with its instrument growth with its built-in scalability. In this fast moving market the need for robust and reliable software solutions could not be greater and we're delighted that China Zheshang Bank has followed the lead of so many other banks in the region and chosen our products. Our customers include the top five banks and more than ten key global, state, regional and local operations."
- Ends -
For further information contact:
Deborah Choong
Marketing Manager, Treasury & Capital Markets - Asia
Misys Banking Systems
+852 2230 2302
deborah.choong@misys.com
Edward Taylor
Global Head of PR
Misys Banking Systems
+44 (0)20 8486 1661
edward.taylor@misys.com
Adam Barber
Financial Dynamics
+44 (0)20 7269 7175
adam.barber@fd.com
About Misys Banking Systems
Misys Banking Systems supplies over 1,200 customers in more than 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 2,500 people around the world and sales, implementation and customer support teams in nearly 30 countries. One third of the world's commercial loans, half of traded loan volumes and one in every eight global FX transactions are conducted using Misys systems. Misys invests heavily in research and development and is one of the top industry spenders, investing nearly ten per cent of total revenue per annum. Misys Banking Systems is part of Misys plc.
About Misys plc
Misys plc (FTSE: MSY.L), 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, combining technological expertise with in-depth understanding of customers' markets and operational needs. In banking Misys is a market leader with over 1,200 customers, including 49 of the world's top 50 banks. In healthcare Misys is also a market leader, serving more than 110,000 physicians in 18,000 practice locations, 1,200 hospitals and 600 home care providers. Through Sesame, a wholly-owned subsidiary, the company is also a leading provider of support services to financial advisers in the UK. Misys employs around 6,000 people who serve customers in more than 120 countries. For more information, visit www.misys.com
