Bank of Ningbo Co., Ltd (Bank of Ningbo), one of China's leading publicly-listed city commercial banks, has successfully implemented a powerful trade processing solution at its Ningbo head office from Misys, the global application software and services company.
Officials at Ningbo chose to strengthen its operations in late February as a result of higher volumes of transactions in its capital markets business in recent months, and invested in new technology to reduce the need for traders to manually monitor transactions, develop derivative products and grow its market share.
The bank has gone live on Misys Opics Plus - a comprehensive treasury and capital markets solution for front-to-back office, cross-asset processing of a wide range of financial instruments. The platform handles vanilla and complex derivatives, fixed income, and equity and treasury trades. The Misys solution will be used for a wide ranging number of functions including deposit and loan deal, fixed income deals, swap deals and foreign currency business. Significantly, it has allowed Bank of Ningbo to achieve the derivative financial product transaction business license granted by China Banking Regulatory Commission.
A spokesperson for the bank comments: "Market conditions are tough, so it is important to have efficient, reliable financial operating systems to make sure we are maximising operational efficiency and minimising risk. This investment gives us clear visibility across financial instruments and across different departments, and the open architecture of Misys Opics Plus has also made the full integration of this system into our working practices straightforward"
Bank of Ningbo evaluated a range of software products from Reuters, SunGard and Murex before signing Misys to help support its business. The firm was impressed by Misys' proven track record of delivering software solutions in China, the rich functionality of Misys cross-asset trade processing solutions, and Misys' strong services division.
Sunny Leung, Head of Sales, Misys Solutions for Treasury & Capital Markets, North Asia Region, adds: "Opics Plus provides an intuitive user interface, which is designed to offer improved levels of flexibility and adaptability, and the customizable desktop that can be tailored to the preferences of both individuals and groups of user is a key component of the new software."