Misys (FTSE: MSY.L), the global application software and services company, today announced that The PrivateBank has selected Misys Opics Plus to support its foreign exchange and interest rate derivatives business.
The solution which has been deployed on a Software as a Service (SaaS) basis, went live in less than five months using the Misys Quick Start implementation. The PrivateBank will use the Opics Plus solution as a key application for its front office, back office, accounting and risk management.
Opics Plus gives traders access to immediate information thus facilitating their decision making process. Opics Plus provides real-time position and P&L reporting. Back-office will utilise the system's event-based workflow manager to confirm deal and payment information with counterparties and send automatically generated confirmations. The integrated front-to-back system will provide for easier reconciliation and regulatory reporting.
"It was important for us to choose the right partner to support us as we expand our Capital Markets business," said Camille Rudge, Managing Director, Capital Markets at The PrivateBank. "The Opics Plus solution provided us with the right combination of technology and support to serve our clients and continue to expand our business".
"We believe our reputation and track record in the market were important factors to The PrivateBank," comments Rick Salk, Regional Sales Director Americas from Misys. "We are pleased that they found Opics Plus as the best solution to handle their growing business and support for both the foreign exchange and the interest rate derivative business on a managed hosted platform."