Metrobank completes technology upgrade to support Treasury business and expand product offers
Bank successfully implements range of business critical treasury management and risk software solutions from Misys and gains derivatives licence approval.
9 September 2008 – Metropolitan Bank and Trust Company (Metrobank), the largest bank in the Philippines has successfully completed a major revamp of its treasury and capital markets operations by implementing advanced software solutions for cross-asset trading from Misys, the global application services and software company.
The upgrade supports the bank’s strategy to consolidate its leadership position in the booming Philippines financial markets where a further wave of liberalisation is expected to intensify competition and increase trading volumes. The move also demonstrates the firm’s commitment to improving risk management and efficiency in its treasury operations.
Metrobank has implemented Misys Opics Plus, a front-to-back-office transaction processing solution across a wide range of instruments including derivatives, fixed income, equities and treasury trades.
The new Treasury system will further boost the Bank’s capability to provide clients with better and more sophisticated products as it optimizes the expanded derivatives license granted by the Bangko Sentral ng Pilipinas. The upgrade will support the booking and risk management of its trading operations using a range of derivatives products such as Swaps, Options, Credit Derivatives and Structured Products.
Fernand Antonio Tansingco, Executive Vice President and Treasury Group Head of Metrobank said, “We see a steady increase in trading volume, and as such, we aim to minimise transaction costs and eliminate manual processes wherever possible. Implementing a single solution across our product offerings will help us meet our operational targets and give us the flexibility to pursue our strategic objectives including the expansion of our derivatives business.”
Tansingco added that when Metrobank applied for its expanded derivatives license, emphasis was placed on having the correct systems to manage risk, monitor exposure and aid in compliance. “We are confident that our partnership with Misys has helped towards this end,” Tansingco affirms.
Graeme Beardsell, General Manager for Misys in Asia said, “We continue to work with Metrobank to ensure that the growth of its trading activities in a volatile and growing market is underpinned by a system that delivers operational efficiencies, flexibility and time-to-market advantage together with no-compromise risk management and best of breed analytical tools.”
Misys Solutions for 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.
For further information please contact
Stephen White
Misys Treasury & Capital Markets
t. +44 (0)20 3320 5593
stephen.white@misys.com
Sebastian Mathews
Financial Dynamics
+44 (0) 20 7269 7158
sebastian.mathews@fd.com
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.
Misys: experience, solutions, results
Contact us today, visit: www.misys.com
