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London Clearing House extends Misys Arrow contract

02 April 2003  |  4085 views  |  0 London Clearing House extends Misys Arrow contract

The London Clearing House (LCH) has signed a further two year contract with Misys Asset Management Systems for facilities management and disaster recovery services through the vendor's Crest interface, Arrow.

Arrow processes and reports on the netted transactions from both LCH RepoClear for the UK gilt market and the LCH Equity Margining System for Euronext.Liffe. The software automatically integrates with Crest, reconciling data including including stock balances and posting, CMA balances, cash positions and open positions. LCH currently processes an average £10 billion a day in trades through Arrow.

Alan Blackmore, director - commissioning, LCH, says: "LCH has successfully used Arrow since CrestCo was established prior to expanding the service into LCH RepoClear last year and we're confident it will meet our increasing requirements."

Misys says Arrow can be implemented as a stand-alone application or integrated with back-office systems. Charges are calculated on a per transaction basis.

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