LONDON, March 12 /PRNewswire/ --
- Bank Goes Live on Misys Opics Plus to Manage Increased Number of Trades and Strengthen Risk Practices
Bank of Ningbo Co. Ltd (Bank of Ningbo), one of China's leading publicly-listed city commercial banks, has successfully implemented a powerful trade processing solution at its Ningbo head office from Misys, the global application software and services company.
Officials at Ningbo chose to strengthen its operations in late February 2008 as a result of higher volumes of transactions in its capital markets business in recent months, and invested in new technology to reduce the need for traders to manually monitor transactions, develop derivative products and grow its market share.
The bank has gone live on Misys Opics Plus - a comprehensive treasury and capital markets solution for front-to-back office, cross-asset processing of a wide range of financial instruments. The platform handles vanilla and complex derivatives, fixed income, and equity and treasury trades. The Misys solution will be used for a wide ranging number of functions including deposit and loan deal, fixed income deals, swap deals and foreign currency business. Significantly, it has allowed Bank of Ningbo to achieve the derivative financial product transaction business license granted by China Banking Regulatory Commission.
A spokesperson for the bank comments: Market conditions are tough, so it is important to have efficient, reliable financial operating systems to make sure we are maximising operational efficiency and minimising risk. This investment gives us clear visibility across financial instruments and across different departments, and the open architecture of Misys Opics Plus has also made the full integration of this system into our working practices straightforward.
Bank of Ningbo evaluated a range of software products from Thomson Reuters, SunGard and Murex before signing Misys to help support its business. The firm was impressed by Misys' proven track record of delivering software solutions in China, the rich functionality of Misys cross-asset trade processing solutions, and Misys' strong services division.
Sunny Leung, Head of Sales, Misys Solutions for Treasury Capital Markets, North Asia Region, adds: Misys Opics Plus provides an intuitive user interface, which is designed to offer improved levels of flexibility and adaptability, and the customizable desktop that can be tailored to the preferences of both individuals and groups of user is a key component of the new software.
Misys Solutions for Treasury Capital Markets has 19 years of market experience and unrivalled software development expertise, creating integrated, comprehensive solutions for financial institutions to manage their capital market activities across multiple asset classes. Misys provides software solutions and services to the top five banks in China.
About Bank of Ningbo
Bank of Ningbo Company Limited is a city commercial bank in Ningbo, Zhejiang, China. As of June 2008, it operated 78 branches in Ningbo and Shanghai. Since January 2008, Bank of Ningbo has become one of the constitute stocks in Shenzhen Stock Exchange Component Index. In August 2008, the bank relocated several major departments from Ningbo to Shanghai. It was founded in 1997 as the Ningbo Commercial Bank. In 2007, it changed its name to Bank of Ningbo and listed its shares on the Shenzhen Stock Exchange.
About Misys plc
Misys plc (LSE: MSY) provides integrated, comprehensive solutions that deliver significant results to organisations in the financial services and healthcare industries. We maximise value for our customers by combining our deep knowledge of their business with our commitment to their success.
In banking and treasury capital markets, Misys is a market leader, with over 1,200 customers, including all of the world's top 50 banks. In healthcare, Misys plc owns a controlling stake in NASDAQ listed Allscripts-Misys Healthcare Solutions, Inc, a clear leader in the provision of healthcare technology, serving more than 150,000 physicians, 700 hospitals and nearly 7,000 post-acute and homecare organisations. Misys employs around 6,000 people who serve customers in more than 120 countries.
We aspire to be the world's best application software and services company, delivering results for the most important industries in the world.
Misys: Experience, Solutions, Results
Contact us today, visit: http://www.misys.com
For further information please contact: Stephen White Misys Solutions for Treasury Capital Markets t: +44(0)20-3320-5593 e. firstname.lastname@example.org
For further information please contact: Stephen White, Misys Solutions for Treasury Capital Markets, t: +44(0)20-3320-5593, e. email@example.com