Misys Treasury Plus voted 'Best Trade Processing Solution' in European Banking Technology Readers' Choice Awards

27 November 2007

Misys (FTSE: MSY.L), the global application software and services company, was awarded ‘Best Trade Processing solution’ for its innovative web-based trade processing solution, Misys Treasury Plus, at the inaugural European Banking Technology Readers’ Choice Awards dinner in London on 22 November 2007.

This year, for the first time, Banking Technology’s readers were asked to vote on what they consider to be the best solutions in a range of categories. Voting through a web-based system, almost 1,000 votes were cast, with Misys shortlisted in two categories. In the end, Misys Treasury Plus, a leading post-trade confirmation-matching service used by more than 800 banks, fund managers, and corporations globally to match and settle trades, was announced as a Readers’ Choice winner.

Neil Macro, Head of Sales EMEA, Misys Treasury Plus, comments: “It’s fantastic to win this award. We’ve recently added major new capability to our fully hosted and web-based solution in OTC derivatives and Commodities confirmation matching, and I believe our clients are feeling the added benefits of our innovation to their businesses.”

The Readers’ Choice Awards were created to recognise the fact that financial institutions are increasingly turning to independent software providers in search of solutions to a range of issues that would once have meant an expensive bespoke development.

Misys customer, Matthias Lange, Head of Financial Risk Controlling and Operations at TUI - the global travel group, explains the value of Misys Treasury Plus: “Our confirmation process was time consuming, not integrated into our Treasury system and processes and, after all bared some risks. With Misys Treasury Plus we are now able to agree confirmations with our counterparties on the date that the trade took place, which eliminates a great deal of operational risk. Additionally, we have achieved levels of straight-through processing that have significantly reduced the number of personnel ‘touching’ the trades, as well as reducing overheads, and ultimately the cost of doing business.

Since utilising Misys Treasury Plus, TUI has achieved automatic matching rates of almost 100% in daily FX, forward and spot deals. Confirmation times have been significantly reduced with most agreed on the same day with counterparties and the group is also experiencing much higher levels of STP.

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