Misys says that the Interbank Matching module – added to the Misys Treasury platform in June 2004 – now allows banks to manage their Interbank trades for foreign exchange, options and money markets without involvement from counterparties.
The module allows banks without internal matching engines and which are using Misys Treasury for confirmation matching, to use a new Interbank Matching application to capture all incoming and outgoing SWIFT confirmation messages. The service copies all MT 300 series messages for a bank, so that within minutes of a SWIFT message being generated, the status of financial terms are reported back to the bank via the web. Misys claims this greatly reduces the operational processing risk associated with foreign exchange dealing. From here, the messages are then matched using Misys Treasury’s real-time confirmation matching engine, so that banks can see instantly the matching results of any deal.
Misys Treasury is web-based, so all these transactions can be managed from the same portal and require no development work for implementation. To date, six banks are using Misys Treasury Interbank Matching.
“Misys Treasury’s Interbank Matching module has been very successful since its launch earlier this year,” says Mark Davies, CEO of Misys Global Managed Services. “By providing financial institutions with the ability to manage SWIFT generated foreign exchange confirmation activity via the Misys Treasury portal, we are confident that both new and existing customers will want to take advantage of this new product.”