Bank chooses Misys Summit FT and Eagleye to deliver increased trading volumes and strengthen risks monitoring and controls as part of innovative growth strategy.
26 February, 2008 - China Everbright Bank, China's first nation-wide joint-stock commercial bank with State Government as controlling shareholder and equity investment from international financial institutions, has signed a deal with Misys, the global application software and services company, to install advanced trading and compliance software solutions in its treasury & capital business.
As part of a drive to boost trading risk management, the move is a response to growing market demands set by higher volumes of trades and the increasingly complex compliance regulations. Following a strategic review, China Everbright is replacing existing software systems with the new solutions from Misys to handle multi asset class instruments including derivative products across its front, middle and back office integrated operations, to meet the requirements of the government's regulations.
Misys Summit FT is Misys' market-leading treasury and capital markets solution offering cross-asset trading, risk and STP for vanilla to complex structured trades. China Everbright will focus on implementing the interest rate, credit, equity and foreign exchange modules. The bank is also taking Eagleye, a powerful and flexible platform offering an integrated trading and risk monitoring service delivering an environment of protection. The system will provide China Everbright with an ability to monitor adherence to mandates, regulations, policies or any restriction, and as such helps to reduce credit, market, and operational risk.
A spokesperson from China Everbright Bank comments: "This is an important step for China Everbright in ensuring that we maximise our operational effectiveness and continue to improve on the quality and breadth of services we offer to our customers. The Misys Summit and Eagleye solutions will provide sophisticated front to back integrated support for our derivatives business and we'll benefit from more streamlined operations, better risk management across all sectors and the ability to handle more trades."
Misys was chosen as a strategic partner following extensive consideration and case tests in 60 different scenarios.
Alan Railton, General Manager for Misys in Asia comments: "As the markets continue to grow at an unprecedented pace in China and Hong Kong, our software solutions will help China Everbright ensure that they are offering the best services to their customers. We are focused on helping the bank to effectively manage all aspects of its treasury and capital markets business and boost risk management and this deal is a strong example of how financial institutions in Greater China are replacing their legacy front office systems with powerful integrated solutions from front to back."
Misys Treasury & Capital Markets has 18 years of market experience and unrivalled software development expertise. It creates integrated, comprehensive solutions for financial institutions to manage their capital market activities across multiple asset classes.
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For further information or to request an interview with a Misys spokesperson, please contact:
| Deborah Choong Misys Treasury & Capital Markets, Asia Tel: +852 2230 2302 deborah.choong@misys.com | Stephen White Misys Treasury & Capital Markets Tel: +44 (0) 207 757 6134 stephen.white@misys.com |
| Clare Martin Professional Public Relations, HK Tel: +852 3111 9967 cmartin@pprgreaterchina.com | Jerry Zhu Professional Public Relations, Beijing Tel: +86 137 0135 9779 jzhu@pprgreaterchina.com.cn |
About Misys plc
Misys plc (FTSE: MSY.L), provides integrated, comprehensive solutions that deliver significant results to organisations in the financial services and healthcare industries. We maximise value for our customers by combining our deep knowledge of their business with our commitment to their success.
In banking and treasury & capital markets, Misys is a market leader, with over 1,200 customers, including all of the world's top 50 banks. In healthcare, Misys is a market leader, serving more than 110,000 physicians in 18,000 practice locations and 600 home care providers. Misys employs around 4,500 people who serve customers in more than 120 countries.
We aspire to be the world's best application software and services company, delivering results for the most important industries in the world.
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Contact us today, visit: www.misys.com
