Bank of China to boost trading volumes by 50% following implementation of Misys capital markets software
Bank to utilise Misys Opics Plus at Beijing head office and across global network
19 June 2008 – The Bank of China, China’s biggest trader in foreign exchange, has gone live with an advanced treasury and capital markets solution from Misys (FTSE: MSY.L), the global application software and services company. Misys Opics Plus as been installed at the banks head office in Beijing, and also rolled out across its network of offices in Sydney, Tokyo, Macau, Singapore, Frankfurt, London and Paris. With the new platform expected to help the bank increase trading volumes by 50% over the next year.
The Bank of China has been a long standing client of Misys and has successfully implemented Misys Opics for a number of years. As technology platforms have evolved, and volumes of foreign exchange trades have increased over recent years, however, Bank of China felt they needed an upgrade that would provide increased efficiency and enable them to better handle these rapidly growing demands across all of their offices.
Misys Opics Plus is a front-to-back multi asset-class and cross-border derivatives system that handles foreign exchange and money market instruments, as well as market standard derivatives and retail-structured products. Moving the original Misys Opics to the .NET environment of Misys Opics Plus has given the system a significant performance edge, and the new tiered architecture allows organisations to run tasks in parallel, ensuring scalability to meet the needs of banks' operations as they evolve.
Furthermore, by using server-based processing Misys Opics Plus can process higher volumes of transactions than ever before and can also scale to meet any additional volume needs as they develop. The Bank of China estimates that in their case, this improved functionality should allow them to increase their volume of trades by 50% or more.
With the exponential growth experienced in the level of foreign exchange trades over recent years, this system will help enable The Bank of China to maintain its competitive advantage and hold its position as the leading foreign exchange trader in China. This is one of a number of system upgrades the bank is implementing across its operations to ensure it provides customers with the best possible services.
Graeme Beardsell, Managing Director of Misys Solutions for Banking, Treasury and Capital Markets, Asia Pacific, added, “As the level of international business conducted in China continues to grow, comprehensive and scalable software solutions are vital in helping the country’s leading banks create new revenue opportunities and provide new products for customers. We implemented Misys Opics Plus quickly and efficiently at the Bank of China, and enabled a smooth transition to the new platform, ensuring minimal disruption to trading.”`
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. Misys Treasury & Capital Markets currently works with China’s top five banks and more than ten key policy and commercial banks in China
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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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