Misys Wholesale Banking Systems' CMS service has received approval to operate as a Swift Treasury Electronic Trade Confirmation (ETC) provider and to implement its own SwiftNet connection.
Misys CMS was formed when Misys acquired foreign exchange and money market confirmation system, Crossmar Matching Services, from Citigroup last year.
The vendor has been given the Swift BIC of MISYGB2L, allowing its customers to send Swift confirmations via its own Swift address rather than the Citigroup address used prior to the acquisition.
Misys CMS has also implemented a SwiftNet connection, moving from the Citigroup Swift infrastructure to a Misys gateway. The new infrastructure enables Misys to use SwiftNet messaging services as well as extend the range of electronic straight-through processing (STP) services it offers to clients in the area of post-trade allocations and confirmations.
Jerry Luckett, director of product & Strategy, Misys Wholesale Banking Systems, says: "As our customers have to adopt new technologies to adhere to new regulations and messaging standards, it remains our priority to identify and provide sophisticated technology so that they can achieve their business objectives."
Misys plans to expand its SwiftNet capabilities and launch new services which will include the real-time exchange of information as well as secure transfer of bulk data such as low value payments. The vendor says the new Misys SwiftNet system could provide the low cost entry point that will enable its client base to use these new services quickly and efficiently.