Misys pushes into China

Misys pushes into China

Misys International Banking Systems has won an order with China Construction Bank for its Opics treasury and capital markets system, and is opening up a new Beijing office to service and support clients in the region.

Opics is currently being implemented at the bank's head office in Beijing, and will be integrated with the Reuters Kondor+ system in the front-office for straight-through processing across the full range of treasury instruments traded in the front-office. Project completion is scheduled for the end of 2002.

The system includes applications to support deposits & loans, fixed income, call & notice, foreign exchange, repurchase agreements, OTC options, FRA’s, mortgage-backed securities and swaps transactions. Other components of CCB’s Opics implementation include multi-currency general ledger, confirmation matching and nostro management, plus rate-feed handling. It also handles interfaces to the bank’s Bloomberg trading system, the Swift message network and CCB’s clearing network for its domestic branches’ foreign currency payments.

Bank of China went live with Opics at its head office in Beijing in December. A spokesperson for the bank says: "Opics has proved to be extremely efficient as a processing engine and covers the wide range of financial instruments traded by the bank. By enabling us to consolidate all our treasury transactions on a single database, Opics has enhanced the quality of information available to management, and provided far greater control over exposure to risk.”

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