London, 8th October 2004 – Misys Wholesale Banking Systems (Misys) has developed a new application, Opics Compliance, which automates and centralises monitoring of the many limits and rules laid down by the regulators.  It enables financial institutions to remove the need for manual intervention, speeds up compliance checks and reduces their operational risk.

Opics Compliance defines, manages and checks the vast array of rules, post-trade and positional limits and events which are present in an increasingly regulated global financial market.  Operations managers are now able to define a wide range of limits using definition functions within the application without the need for technical knowledge or coding expertise.

“Existing systems on average only pick up 65% of the rules laid down by the regulators”, comments Paula Rice, Head of Products for Treasury and Capital Markets at Misys Wholesale Banking Systems.  “Banks battle everyday with the ever-present spectre of rules and regulations. We have developed Opics Compliance, based on the Misys Eagleye product, to take away the headache of having to manage this by automating what was once a laborious time-consuming activity fraught with potential mistakes.”

The application is capable of performing more than 1,000 checks per second, including inventory limits, compliance rules, trader limits, profit & loss limits, operational risk rules and risk limits.  These can be simple checks against a condition, absolute number, percentage or more complex comparisons with historical results or other data held within Misys Opics.

Opics Compliance takes advantage of the latest technology to provide the ability to perform high volumes of limits and compliance checks rapidly.  It utilises Microsoft.Net technologies to create a highly flexible, reliable and secure application, which can be scaled to whatever requirements the financial institution has.

Edward Taylor / Jo Brice
Financial Dynamics
+44 (0)20 7269 7295 / 7246
edward.taylor@fd.com or jo.brice@fd.com

Andy Coulter
Head of Marketing & Business Planning
Misys Wholesale Banking Systems
+44 208 897 1188
andy.coulter@misys.com

About Misys Wholesale Banking SystemsMisys Wholesale Banking Systems is a trusted provider of innovative technology solutions: over 1,000 employees in 30 offices around the world have built up the domain expertise to deliver world-class solutions with an understanding of local requirements. Misys Wholesale Banking Systems' staff are committed to developing and supporting a product family that embraces trade services, international & regional banking, managed treasury services, capital markets, confirmation matching, continuous linked settlement (CLS), multi-channel banking, commercial lending, FX trading, cash management and financial messaging.

Misys Wholesale Banking Systems is part of Misys plc’s Banking & Securities Division, which serves over 1,200 customers across more than 120 countries worldwide, including 90% of the world's top 50 banks (Source: The Banker, July 2004).

Misys plc, the global software products and solutions company, serves customers in the international banking and securities, international healthcare, and UK general insurance industries.  Through a wholly owned subsidiary, Sesame, it also provides business process outsourcing services to independent financial advisors (IFAs) in the UK.  Misys partners with its customers to deliver outstanding IT solutions to essential industries, and employs more than 6,100 people internationally.