Accounting and Financial Software
China Merchants Bank Extends Relationship with Misys Banking Systems by Going Live with Leading-Edge Risk Management Solution in its Headquarters
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BEIJING, China, October 18/ --Misys Banking Systems, a global leader in banking software and solutions, announces today that China Merchants Bank, (CMB), the largest credit card issuing bank in China, has gone live with Misys Opics Risk at its head office in Shenzen, China.
The risk management solution from Misys processes and analyses the bank's profit and loss and interest rate risk exposure in its front, middle and back-office operations. Misys Opics Risk has been integrated with the Bloomberg, Reuters and Bank Nostro systems in the bank as well as CMB's own retail foreign exchange system to give it optimal market information on prices and deal values.
Misys Opics Risk is an advanced market risk and portfolio management solution aimed at reducing treasury costs and increasing returns. It is a complete risk management tool with broad instrument coverage and a depth of functionality that enables financial institutions to manage, model, forecast and report risk for all levels: the institution itself, the controllers of the institution and clients of the institutions.
CMB is using the software to run daily stress tests, calculate P&L, manage interest rate risk and calculate riskmetrics VaR across a diverse portfolio, including OTC options, swaps, foreign exchange and foreign investment.
"The Misys Opics Risk solution was a natural choice for us," comments Dr.
liu Xiao-La, Assistant General Manager, Treasury China Merchant Bank. "We have a large international network of branches, across China and the US, as well as our online Internet banking operation. When we looked at other solutions on the market none came close to having the breadth of functionality that Misys offered. This, along with a deep knowledge of our sector and market made Misys an ideal partner for us and we are looking forward to continuing our relationship with them in the months and years to come."
"We have worked with China Merchant Bank for a number of years and we're delighted that they're now using Misys Opics Risk at their head office," adds Murray Sargant, Managing Director Asia Pacific for Treasury & Capital Markets, Misys Banking Systems. "The bank is using an outstanding application that will enable it to deal with all its risk management needs in day-to-day operations."
China Merchant Bank has over 30 branches in China and Hong Kong and associations with a network of over 400 locations. In addition, CMB also has a US representative office in New York. CMB has partnerships with more than 1000 banks in more than 80 countries.
About Misys Banking Systems
Misys Banking Systems supplies over 1,200 customers in more than 120 countries, among them 49 of the world's top 50 banks, with software and solutions for retail banking, wholesale banking, treasury and capital markets and risk management. It has 2,500 people around the world and sales, implementation and customer support teams in nearly 30 countries. One third of the world's commercial loans, half of traded loan volumes and one in every eight global FX transactions are conducted using Misys systems. Misys invests heavily in research and development and is one of the top industry spenders, investing nearly ten per cent of total revenue per annum. Misys Banking Systems is part of Misys plc.
About Misys plc
Misys plc (FTSE: MSY.L), the global software company, is one of the world's largest and longest-established providers of industry-specific software. Founded in 1979, Misys serves the international banking and healthcare industries, combining technological expertise with in-depth understanding of customers' markets and operational needs. In banking Misys is a market leader with over 1,200 customers, including 49 of the world's top 50 banks. In healthcare Misys is also a market leader, serving more than 110,000 physicians in 18,000 practice locations, 1,200 hospitals and 600 home care providers. Through Sesame, a wholly-owned subsidiary, the company is also a leading provider of support services to financial advisers in the UK.
Misys employs around 6,000 people who serve customers in more than 120 countries. For more information, visit www.misys.com
For further information, please contact:
Edward Taylor
Global Head of PR
Misys Banking Systems
+44-208-486-1661
edward.taylor@misys.com
Caroline Parker / Adam Barber
Financial Dynamics
+44-207-269-7295
caroline.parker@fd.com / adam.barber@fd.com
Source: Misys plc
