Misys offers confirmation matching module for OTC derivatives

Source: Misys

A new confirmation matching module for OTC Derivatives from Misys, the global software and solutions company, has gone live in more than 800 of the world's largest corporates and financial institutions, enabling automated post-trade confirmation matching in OTC Derivatives and Commodities for the first time through Misys Treasury Plus.

Today's release of the latest version of Misys' confirmation matching solution, Misys Treasury Plus V1.5, introduces a revolutionary Instrument Wizard which adapts the Software-as-a-Service solution's unique technology to a much broader range of capital markets instruments. Corporate treasurers, compliance officers and their banking counterparties, who need to reduce the window of risk between trade date and confirmation, will now be able to use this functionality across a wider variety of capital market instruments. A confirmation process that normally takes three to ten days can be reduced to less than 24 hours.

The new module provides a single window for both the buy side and sell side to confirm OTC Derivatives and Commodities transactions. The system can accept any FpML standard subset, allowing seamless trade entry by processing messages from both banks and non-banks. Financial institutions and their clients can deliver the economics of the transaction to Misys Treasury Plus and have its critical elements auto-matched by the system, while the document approval/affirmation process also provides the ability to attach a contract or any document to the trade so that it may be reviewed and affirmed by the counterparty.

Gilmore Bray, Global Head of Product Development for Global Managed Services comments: "With this automated and flexible translation and matching mechanism, both counterparties are able to leverage the speed and convenience of Misys Treasury Plus for all their confirmation matching needs - instead of having to maintain multiple interfaces to confirm multiple instruments, which can be costly, slow and inefficient."

Like the FX, Money Market, FX Options and Precious Metals modules available in Misys Treasury Plus, the OTC Derivatives and Commodities functionality provides a full audit trail and comprehensive reporting capability.

Bray adds: "By listening to what our customers need most and adapting our solution to solve their business problems, Misys Treasury Plus has built a reputation as the gold standard in confirmation matching services. The Instrument Wizard is just the latest in a long line of innovative solutions developed by our experts to solve particular pain points. With the new OTC Derivatives and Commodities module, Misys Treasury Plus strengthens its unparalleled leadership in confirmation matching with the broadest customer base and an even greater depth of instrument coverage."

Misys Treasury & Capital Markets has 17 years of experience and unrivalled software development expertise. It creates integrated, comprehensive solutions for financial institutions to manage their capital market activities across multiple asset classes.

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