Misys bags three Swift ISO 15022 migration contracts
09 July 2002 | 4005 views | 0
Misys Securities Trading Systems is reporting three renewal contracts with UK financial institutions - Lazard Capital Markets, Gulf International Bank and Icap - for its new Swift XML module.
Lazard Capital Markets has purchased a licence for the new Misys Market Settlement Swift XML module. The move follows a recent implementation of a real-time interface between its Misys back and front office trading and settlement systems.
Nick Cook, vice president, head of operations at LCM, says: "When live, this project will complete our preparations for complying with the Swift ISO15022 standard in November, when it will replace the ISO 7775 standard."
Gulf International Bank GIB (UK) initially licensed the Misys Meridian development toolkit in August 2001 to form part of its middleware infrastructure. The firm will now implement a back office-to-Swift integrated interface to enable it to meet the Swift ISO 15022 deadline.
Icap has also recently signed a licence for the new Swift XML module as well as purchasing the Misys Meridian development toolkit as its strategic middleware solution.
Lance Fisher, IT director for Europe and Asia at Icap, says: "We have been working closely with Misys to replace a number of in-house settlement systems and went live with their back office system last summer. The introduction of ISO 15022 has meant a strategic change in the product in line with market recommendations. We have also used this opportunity to implement Misys’ Meridian middleware product as a development tool to give us additional flexibility over the runtime option that was also on offer."