Hong Kong – 15th June 2006 – Misys Banking Systems, a global leader in banking software and solutions, has been chosen by Dah Sing Group, the leading Hong Kong-based financial services company, to implement Misys Opics to fully manage its treasury back office operations, including its derivatives processing, across the bank’s branches in Hong Kong, Macau and mainland China over the coming 12 months.
As a result of increased volumes and complexity in its trading environment and market deregulation in China, Dah Sing Bank needed a more robust back office system to meet its operation and business needs. Misys Opics was chosen as the most optimal solution after the internal evaluation process.
The Misys Opics system is an advanced multi-asset class treasury and capital markets solution. The solution will enable Dah Sing Bank to smoothly process all foreign exchange, money market and fixed income transactions, including bonds and repos, and a comprehensive range of derivatives instruments, such as futures, exchange-traded and OTC options, FRAs, swaps, caps, collars and floors. As an integral part of the solution, Misys Message Manager will handle all inbound and outbound SWIFT messaging.
Speaking on behalf of Dah Sing Group, Derek Wong, Managing Director, commented, “Our banking operations have grown significantly, particularly in derivatives. We saw that we needed a specialist back office treasury system that could handle the demands of more complex instruments and also integrate fully with our front office trading, retail and trade finance systems. With operations processing in one central location, Misys will help us to manage our STP exceptions better and improve operational efficiencies. This is even more essential since the acquisition of a branch in Macau, from BCM, presented an opportunity to review our systems and, yet again, Misys presented the best solution to our needs.”
Murray Sargant, Managing Director Asia Pacific for Treasury & Capital Markets, Misys Banking Systems, added, “We are delighted that Dah Sing Group has selected Misys Opics and continues as a long-term Misys customer. We have had significant success in Asia with our portfolio of banking software products, with Misys Opics continuing to experience impressive growth. In the past 12 months over 50 clients from across Asia have signed deals to implement or upgrade Misys Opics, solidifying our position as the leading banking systems supplier in the region.”