SWIFT has recently expanded its MT600 series messages to incorporate base as well as precious metals transactions. With this enhancement to the Misys service, both bank and corporate users of Misys Confirmation Matching Service Metals Suite are able to have all metal trade transactions automatically matched via a single secure and reliable portal. This brings more visibility and better control across the lifecycle of the metal trades.
âThis step is the latest in a long line of market-led enhancements to the service and will provide our customers even more value from our solution,â comments Gil Bray, Solutions Director, Misys Confirmation Matching Service. âWe have more than 950 customers who all put their trust in our service for confirmation, netting and settlement needs around the world. We are confident that the extension of our metals capability to take in the whole Metals Suite will bring even more value to them in terms of automation, enhanced straight-through processing and more reporting flexibility. Ultimately, this will make their businesses more efficient with faster processing and settlement times, fewer errors, leading an increase in margins.â
The increased automation which the new Metals Suite brings users will lower risk and the flexibility within the treasury portal allows them to be prepared for future volume changes while keeping costs to a minimum. Any MT 600 series messages that are generated by both counterparties in a trade are automatically matched using the Metals Suite service from Misys. The result is that customers can instantly see the matching results of all deals, significantly reducing operational risk associated with manual processing.