Misys Treasury Plus extends post-trade automation to precious metals

Source: Misys Banking Systems

Misys Banking Systems (Misys) today announces that it has added Precious Metals functionality to the suite of transaction services in its integrated treasury portal, Misys Treasury Plus.

For the first time proactive control of the full lifecycle of multi-asset class trade activity, including Precious Metals, is available by logging into a single secure, easy-to-use, resilient system.

Within minutes of MT 600 messages (SWIFT Precious Metals Confirmation messages) being generated by both counterparties, the trade is automatically matched using Misys Treasury Plus real-time confirmation matching engine. This enables customers to see the matching results of any deal instantly and significantly reduces the operational and settlement processing risk associated with manual confirmation processing.

Most market participants agree that automation is the best way the industry can tackle risk, in addition to supporting anticipated future volume growth. Until today, multi-bank automated confirmation matching systems have been unable to provide post-trade services that included Precious Metal trades.

The rise in Precious Metals trading is starting to overwhelm operations departments. Outstanding confirmations have become more and more cumbersome to deal with manually, and when confirmations are outstanding, risk is created. Another critical reason firms want to automate is the need to reduce costs.

"We develop enhancements to Misys Treasury Plus in close consultation with our customers," comments Mark Davies, CEO of Misys Global Managed Services. "We are very pleased to enhance our capabilities further by providing STP (straight-through-processing) and automation of Precious Metals post-trade processes. Automation meets the market need of trading across multiple asset classes while still having one integrated platform to control operational and settlement risk. We will continue to work with our customers to ensure that they can focus on running their business while we provide the tools to support it," adds Davies.

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