21 November 2007 - Landesbank Baden-Württemberg (LBBW) bank has become the first bank globally to implement a new complex options solution from Misys (FTSE: MSY.L), the global applications software and services company, as part of a wider upgrade in its back office treasury operations. Pioneering the new complex options module within Misys Opics Plus will expand the bank’s complex OTC products business while upgrading its back office will cut end of day batch processing times by half and improve risk management.

LBBW has been seeking to expand coverage in OTC complex options, a key product type in the bank’s growth strategy for financial markets, and following a strategic review, chose to work with Misys as a beta customer for the new complex options module. Completing the implementation will now greatly strengthen LBBW’s product offering to its customers.

 

The bank also sought to strengthen its back office technology for improved STP, and decided to become one of the first institutions globally to upgrade to Misys Opics Plus 1.6, an award-winning front-to-back, cross-asset solution that processes a wide range of financial instruments. The Misys Opics Plus solution handles vanilla and complex derivatives, fixed income, and equity and treasury trades and enables higher volume trading, better risk management, and increased margins through greater operational efficiencies. In LBBW it will be used as platform for all Money Market and FX transactions.

 

Andreas Beck, Senior Vice President Back Office, LBBW comments: “Adopting this new solution and upgrading our back office capability will yield significant benefits for LBBW and its customers. We will half the time it takes for end of day batch processing, which helps us better mange our risk, and the boosted STP and capacity to drive larger processing volumes will make our OTC product business more valuable to our clients.”

LBBW had worked with a previous version of the solution – Misys Opics – since 2003. The upgrade is part of a phased approach to keep LBBW’s trading business at the forefront of complex options arena and a second project is planned to review additional features and functions in the near future.

 

Keith Stonell, Managing Director EMEA, Misys Treasury & Capital Markets adds: “This extended relationship is another example of our commitment to providing cutting edge solutions that deliver real business results for customers. OTC trading volumes have rocketed in the last five years and we’re helping early adopters of this solution, such as LBBW, to handle a much larger spread of options and create a growth engine for their treasury and capital markets operations.”

 

 

Stephen White

Misys Treasury & Capital Markets

+44 (0) 207 757 6134

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 100,000 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