For immediate release - 28th February 2005 - New York/Frankfurt - Misys Wholesale Banking Systems (Misys) is pleased to announce today that Misys Global Managed Services, the company's treasury services arm, has signed a strategic partnership agreement with 360T, the leading European cross-product multi-bank portal.
The partnership enables the integration of 360T's foreign exchange and money market trade execution services with Misys Treasury, the ASP portal providing treasury management services to around 4,000 users worldwide. Under the partnership agreement, 360T will provide access to their execution platform and considerable network of top-tier liquidity providers.
Christoph Perger, Founder and Managing Director of 360T, says: "The partnership between 360T and Misys reflects an interesting trend within the industry. Trying to re-invent the wheel is never a good source of product innovation and customer benefits. We see flexible collaboration between specialist providers supplying best-of-breed components as a far more powerful way of delivering superior products and services. We look forward to working with Misys to enable our joint customers and prospects to take full advantage of our integrated solutions."
Mark Davies, CEO of Misys Global Managed Services, also comments: "Misys has made a strategic commitment to deliver ASP treasury services to clients. The Misys Treasury platform has become the industry benchmark for delivering innovative trading, confirmation, settlement and reporting services. Our partnership with 360T will now enable us to broaden our reach into multi-bank execution for corporate treasurers, fund managers and market-user banks. We look forward to working together over the coming months to deliver services essential to the running of a successful treasury operation."
Under the terms of the agreement, the two companies will provide integrated access to the trade and post-trade services of their respective portals. Additionally, each will offer the other's services to existing users, as well as engaging in joint-market engagement activities for new business.