Misys Banking Systems (Misys), today announces that Misys Global Managed Services, its market leading front-to-back treasury services arm, has signed a strategic partnership agreement with Hotspot FXi.
The partnership enables the integration of Hotspot FXi's foreign exchange marketplace with Misys' integrated treasury services portal (Misys Treasury) to deliver transaction and application services to over 4,000 treasury professionals worldwide. Misys Treasury customers will be able to access Hotspot FXi's marketplace in which FX market clients buy and sell currencies directly and anonymously with each other and leading FX banks.
R. Keith Lite, Director of Business Development, Hotspot FXi, comments: "We have seen tremendous interest from the treasury groups of multinational corporations and asset managers in trading foreign exchange via Hotspot FXi's transparent electronic marketplace. Integrating our platform with the Misys treasury platform creates a robust solution for treasury clients seeking FX best execution and comprehensive post-trade functionality."
Mark Davies, CEO, Misys Global Managed Services, states: "We are dedicated to the delivery of best-of-breed treasury services. The Misys Treasury platform is the industry leader in innovative trading, confirmation, settlement, and cash management. Our partnership with Hotspot FXi enables us to expand clients' access to foreign exchange liquidity providers so that their FX trading performance can be optimised. We look forward to working together to deliver seamless, transparent, leading edge treasury services."
Under the terms of the agreement, the two companies will provide integrated access to the trade and post-trade services of their respective platforms. Additionally, each will offer the other's services to existing users, and will engage in joint market initiatives for new business.