Misys Banking Systems solutions says that China Zheshang Bank (CZB) has gone live with Misys Opics and its risk management module, Misys Opics Risk.
This builds upon Misys’ existing relationship with CZB following the banks decision to implement the treasury management application Misys Opics, in 2005 which fulfilled multi-asset class coverage for trading, risk and operations.
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 bank is using Misys Opics Risk for cashflow analysis, stress testing and Riskmetrics VaR reporting as well as profit and loss analysis. It also gives CZB functionality in money market trading covering Repo, FI, and Forex.
CZB was opened in August 2004 with registered capital of more than 1.5 billion yuan (USD181.2). It was formed based on the restructuring of Zhejiang Commercial Bank, which predominantly provided off-shore banking services.
“This is an exciting time for our bank, and the Chinese banking market,” says Shen Bin, the CRO of the Treasury department at CZB. “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.”
“The Chinese banking industry is seeing unprecedented growth,” adds Murray Sargant, the MD of Treasury & Capital Markets Asia at Misys Banking Systems. “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 we’re 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.”