Misys Banking Systems, a unit of London-based software company Misys, has signed up three leading Asian financial institutions to use Misys Summit for their treasury and capital market requirements.The three clients are Industrial and Commercial Bank of China (ICBC), Japan Post and the Philippines-based Asian Development Bank. ICBC dual-listed in Hong Kong and Shanghai on October 27 and is expected to raise a record-breaking $21.9 billion from its initial public offering. The state-run Japan Post holds savings of about $2.9 trillion.
Misys Banking Systems said the institutions will use its treasury system for the pricing of complex trades and trade processing including swaps, options and collateralised debt obligations (CDOs). “These customers are typical of the more forward-thinking institutions that are adopting systems to manage the complexities of pricing, booking, risk management and regulation within a single solution,” said Alan Railton, Hong Kong-based general manager for sales and distribution in the treasury and capital markets for Misys Banking Systems in Asia.
“Over the last year, we have seen a revenue growth of over 40% in our China business alone,” Railton added. “This is just one example of how rapidly our Asian business is expanding as financial institutions in the region focus on generating significant profits from more complex trading. Complex structured trades and derivatives are becoming increasingly popular in this rapidly moving market.”
More on Technology
IT systems not geared for trade reporting under EU anti-manipulation law
Result comes despite tougher rules on market manipulation and abuse
Focus needs to be on reacting, not stopping every threat
Companies can wring more value from regulation-mandated data
Sign up for Risk.net email alerts
Sponsored video: MarketAxess
Sponsored video: Tradeweb
Multifonds talks to Custody Risk on being nominated for the Post-Trade Technology Vendor of the Year at the Custody Risk Awards 2014
Sponsored webinar: IBM Risk Analytics
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.