London, 7th June 2004 – Misys Wholesale Banking Systems (Misys) today announced the launch of Misys Treasury, a new ASP service providing browser-based treasury management services for corporate treasurers and fund managers.

With the launch of the new service, the existing confirmation services known previously as Misys CMS will now be merged with, and become part of, Misys Treasury, an exciting new proposition for the market.

This new proposition will be developed and marketed by Misys Global Managed Services (Misys GMS), the business unit within Misys Wholesale Banking Systems created to offer new ASP and managed services propositions to banks, corporate customers and fund managers. Existing Misys CMS customers will continue to benefit from the services they already receive, but will also be able to take advantage of the new range of functions and business services provided by Misys Treasury.

Misys Treasury has been designed to provide corporate treasurers with a more efficient, flexible and risk controlled environment for day-to-day activities, and will initially be released in two phases. The first release incorporates multi-bank electronic trade execution for foreign exchange and money market instruments, confirmation matching and the automatic population of settlement instructions.

Customers signing up for the Misys Treasury service will log onto a single secure portal to access the latest market prices and execute trades. The trade execution services are provided in conjunction with Currenex, the leading low cost technology provider of FX and money market trading solutions, with whom Misys has recently signed a strategic partnership agreement. Transactions are automatically passed to the confirmation matching engine, with the option of enrichment from Misys' standing settlement instructions database and no need for any manual intervention.

The increase in straight-through processing (STP) provided by the solution allows a corporate treasurer to know when trades have been confirmed by their SWIFT counterparties, reducing operational risk and streamlining workflow within their organisation.  Furthermore, using ASP technology, corporate treasurers can benefit from a more cost effective and low risk solution that enables multi-bank connectivity while avoiding the costly infrastructure, hardware and software traditionally associated with sophisticated treasury management systems.

The second release of the service, scheduled for autumn launch, will introduce cash management and payments services.  This additional functionality will further leverage Misys’ existing treasury expertise and the experience gained with their OPICS product, a comprehensive front-to-back office solution for treasury, derivatives and capital markets that is already used by over 100 leading financial institutions.

The extensive knowledge and capability Misys holds through its experience in bank-based treasury management will be developed, extended and applied to specifically meet corporate client needs via the ASP.  In addition, Misys Treasury will continue to be developed in line with changing market forces to meet the needs of all corporate, fund and bank customers. 

Andy White, CEO of Misys Wholesale Banking Systems, comments: “Misys has made a strategic commitment to deliver ASP services to clients.  CMS was the first offering, and, following our partnership with Currenex, Misys Treasury now broadens our reach into multi-bank trading for corporate treasurers and fund managers. The solution is an exciting new proposition for our customers, and we look forward to expanding our services to even more areas of treasury operation over the coming months."

Shamira Alidina / Adelaide Harrison
Write Image
+44 (0)20 7959 5400
shamira@write-image.co.uk / adelaide.harrison@write-image.co.uk

Gil Bray
Head of Product and Marketing, Misys Global Managed Services
Misys Wholesale Banking Systems
+1 845 501 0775
Gil.bray@misys.com

About Misys Wholesale Banking Systems
Misys 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 banking, treasury & capital markets, confirmation matching, continuous linked settlement (CLS), ebanking, middleware 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, including 92% of the world's top 50 banks and 56% of the top 250. (Source: The Banker, July 2003).

Misys plc, one of the world's largest software solutions companies, serves customers in the international banking and securities, US healthcare, and UK retail financial services sectors. Employing over 6,000 staff, Misys reported revenues in excess of £1 billion ($1.5 billion) for the year ended 31 May 2003.

About Currenex
Currenex is the leading low cost technology provider of foreign exchange and money market trading solutions for global financial institutions, funds, corporations and other market participants.  Currenex supports real-time, auditable, online trading across all currencies 24 hours a day.