LONDON - Bank Goes Live on Misys Opics Plus to Manage Increased Number of Trades
and Strengthen Risk Practices
Bank of Ningbo Co. Ltd (Bank of Ningbo), one of China’s leading
publicly-listed city commercial banks, has successfully implemented a
powerful trade processing solution at its Ningbo head office from Misys, the
global application software and services company.
Officials at Ningbo chose to strengthen its operations in late February
2008 as a result of higher volumes of transactions in its capital markets
business in recent months, and invested in new technology to reduce the need
for traders to manually monitor transactions, develop derivative products and
grow its market share.
The bank has gone live on Misys Opics Plus - a comprehensive treasury and
capital markets solution for front-to-back office, cross-asset processing of
a wide range of financial instruments. The platform handles vanilla and
complex derivatives, fixed income, and equity and treasury trades. The Misys
solution will be used for a wide ranging number of functions including
deposit and loan deal, fixed income deals, swap deals and foreign currency
business. Significantly, it has allowed Bank of Ningbo to achieve the
derivative financial product transaction business license granted by China
Banking Regulatory Commission.
A spokesperson for the bank comments: “Market conditions are tough, so it
is important to have efficient, reliable financial operating systems to make
sure we are maximising operational efficiency and minimising risk. This
investment gives us clear visibility across financial instruments and across
different departments, and the open architecture of Misys Opics Plus has also
made the full integration of this system into our working practices
straightforward.”
Bank of Ningbo evaluated a range of software products from Thomson
Reuters, SunGard and Murex before signing Misys to help support its business.
The firm was impressed by Misys’ proven track record of delivering software
solutions in China, the rich functionality of Misys cross-asset trade
processing solutions, and Misys’ strong services division.
Sunny Leung, Head of Sales, Misys Solutions for Treasury & Capital
Markets, North Asia Region, adds: “Misys Opics Plus provides an intuitive
user interface, which is designed to offer improved levels of flexibility and
adaptability, and the customizable desktop that can be tailored to the
preferences of both individuals and groups of user is a key component of the
new software.”
Misys Solutions for Treasury & Capital Markets has 19 years of market
experience and unrivalled software development expertise, creating
integrated, comprehensive solutions for financial institutions to manage
their capital market activities across multiple asset classes. Misys provides
software solutions and services to the top five banks in China.
About Bank of Ningbo
Bank of Ningbo Company Limited is a city commercial bank in Ningbo,
Zhejiang, China. As of June 2008, it operated 78 branches in Ningbo and
Shanghai. Since January 2008, Bank of Ningbo has become one of the constitute
stocks in Shenzhen Stock Exchange Component Index. In August 2008, the bank
relocated several major departments from Ningbo to Shanghai. It was founded
in 1997 as the Ningbo Commercial Bank. In 2007, it changed its name to Bank
of Ningbo and listed its shares on the Shenzhen Stock Exchange.
About Misys plc
Misys plc (LSE: MSY) 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 plc owns a controlling stake in NASDAQ listed
Allscripts-Misys Healthcare Solutions, Inc, a clear leader in the provision
of healthcare technology, serving more than 150,000 physicians, 700 hospitals
and nearly 7,000 post-acute and homecare organisations. Misys employs around
6,000 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
For further information please contact:
Stephen White
Misys Solutions for Treasury & Capital Markets
t: +44(0)20-3320-5593
e. stephen.white@misys.com
Source: Misys plc
For further information please contact: Stephen White, Misys Solutions for Treasury & Capital Markets, t: +44(0)20-3320-5593, e. stephen.white at misys.com
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