Misys Opics has given the bank a single STP system for its treasury function to provide automation, while Misys Opics Risk brings market-leading risk management capabilities to the bank. The Misys solutions for CZB have been rolled out throughout 2006 from the front office to the back office, with the final stage of the roll out of Misys Opics Risk programme lying in the middle office going live in September 2006.
The bank is using Misys Opics Risk for cashflow analysis, stress testing and Riskmetrics VaR reporting as well as profit and loss analysis. The leading edge solution also gives CZB excellent functionality in money market trading covering Repo, FI, and Forex.
CZB was opened in August 2004 with registered capital of more than 1.5bn yuan (US$181.2). It was formed based on the restructuring of Zhejiang Commercial Bank, which predominantly provided off-shore banking services.
Mr. Shen Bin, the CRO of the Treasury department CZB, comments, âThis is an exciting time for our bank, and the Chinese banking market. Our choice of Misys software to help with our treasury functions was a natural one. Misys Opics is well established in the sector and well regarded in our region. Having been implemented rapidly, it will help us maintain our position as a key player in the market.â
âThe Misys solutions give us advanced functionality and flexibility that answer our trading needs perfectly. As we continue to grow and consolidate our place within the Chinese banking market we are sure our partnership with Misys Banking Systems will prove invaluable.â
Murray Sargant, Managing Director, Treasury & Capital Markets Asia, Misys Banking Systems, adds: âThe Chinese banking industry is seeing unprecedented growth. Misys Opics and the risk management module will help China Zheshang Bank to keep pace with its instrument growth with its built-in scalability. In this fast moving market the need for robust and reliable software solutions could not be greater and weâre delighted that China Zheshang Bank has followed the lead of so many other banks in the region and chosen our products. Our customers include the top five banks and more than ten key global, state, regional and local operations.â