"OPICS has proved to be eminently suitable for a wide variety of financial institutions," explains Jeff Clark, OPICS Marketing Manager based in White Plains, NY. "We continue to see the system implemented in a variety of ways at bank head offices, foreign bank branches, domestic banks, central banks, government agencies and even broker-dealers. This is a testament to the uniquely flexible design of OPICS. Several of our clients have adopted it as their global operations solution, either on a centralised processing basis or for implementation as an independent system in different locations."
Recent signings for OPICS have come from banks in almost every major financial centre across the world, including New York, London, Frankfurt, Luxembourg Singapore and Zurich. Notable new-name customers in North America include such prestigious organisations as First Union National Bank, Charlotte, N.C., and Bank One, Chicago.
Sales of OPICS in Europe have also been growing, and include a contract from London-based merchant bank, Ansbacher. New markets for the system in continental Europe have also been opened up, with orders for OPICS in Germany having been won from Landesbank Baden-WÃ¼rttemberg and Hamburger Sparkasse, both leading regional financial institutions. The giant Credit Suisse organisation has also licensed OPICS for its headquarters in Zurich, while Kredietbank S.A. Luxembourgeoise is in the process of implementing the system in Luxembourg. Contracts for OPICS have also been signed with two of Portugalâs savings bank groups, Caixa Central and Caixa Geral Depositos, as well as Banco Comercial Portugues.
While recent sales to Arab National Bank in Dubai, and Qatar National Bank demonstrate that OPICS is fast gaining recognition in the Middle East, it is the Asia/Pacific marketplace which is currently showing the greatest increase in orders for the system. RCBC, Banco de Oro, Philippine Bank of Communications, East West Bank and Bank of the Philippines, all based in Manila have recently licensed OPICS, as have Bank CIC, Bank Lippo, Daiwa Bank and Bank Tabungan Negara in Jakarta. Most significantly however, Bank of China has recently gone live with the system at its Head Office in Beijing, just nine months after signing a contract with Misys, matched by the recent implementations at OCBC Bank in Singapore and Hong Kongâs CITIC Ka Wah Bank. Other orders for OPICS in the Asia/Pacific region have come from Bank Negara Malaysia, Thai Farmers Bank and Thai Military Bank in Bangkok.
Jeff Clark goes on to say, "With its comprehensive coverage of traded instruments, OPICS can be used to support any combination of products within a Treasury, Capital Markets and Derivatives department. OPICS also has the advantage of operating either as a complete front-to-back office solution or as a dedicated back-office processing system, a central feature of which is flexible workflow management."
"Banks recognise that the extent of the straight-through processing (STP) benefits they can realise is proportional to the level of integration between their processing systems," he continues. "For this reason, the OPICS suite also offers a robust, fully-integrated trading front-end (TrOPICS) for enhanced deal entry, position management and risk management. Existing and new customers alike have welcomed the addition of TrOPICS as a valuable tool for their traders, which operates seamlessly with the middle and back-office processing of OPICS to provide enhanced STP. And while STP is a distinctive feature of the product, we have also invested heavily in the development of utilities that allow operators to manage exceptions as efficiently as possible."
"Equally exciting is the rollout of e-OPICS, which is an XML-enabled web entry point into OPICS," adds Jeff Clark. "With e-OPICS, banks can make self-service tools available to their clients and counterparties, enabling them to execute FX and Deposit trades, specify settlement instructions, and monitor trading activity and positions via the Internet. Again, the story here is integration. Once trades have been executed securely via the Internet, bank positions are automatically updated in real time and the necessary data is transmitted to the back-office for processing, as well as being available to the bankâs clients and counterparties as required."
Jeff Clark sums up by saying, "The installation of OPICS at Tier 1 banks such as Citibank, FleetBoston and Standard Chartered Bank has helped to create its enviable track record as a leading market solution, backed up by Misysâ financial strength and dedicated global support team. In addition to the systemâs well-documented breadth and depth of functionality, OPICS is also renowned for its ease and speed of implementation. OPICS offers all the benefits of advanced technology and an industry-standard platform, ensuring that it is both scaleable and intuitive."