Misys Wholesale Banking Systems said it has joined with Currenex in a partnership intended to integrate foreign exchange and money market trade execution services with future Misys service offerings.
Following Misys’ successful acquisition last year of the market-leading Crossmar Confirmation Matching Services (CMS) from Citibank, Misys has been actively looking to expand into other areas of the market, a spokesman for the company said. Under the partnership agreement, Currenex will provide FX execution technology and an expansive and growing network of top-tier liquidity providers.
Andy White, CEO of Misys Wholesale Banking Systems, comments: “Misys has made a strategic commitment to deliver ASP services to clients.” CMS, now part of our new Global Managed Services business, was the first offering. With an increase in transaction volumes in excess of 12% since the acquisition, obtained from a combination of new clients and additional services, it has gone from strength to strength.
“Now our partnership with Currenex will allow us to broaden our reach into multi-bank trading for corporate treasurers and fund managers. We look forward to further expanding our services into other areas essential to the running of a successful treasury operation over the coming months,” White said.
Clifford Lewis, Chairman and CEO of Currenex, added, “The partnership between Currenex and Misys Wholesale Banking Systems is an exciting development for the industry. We look forward to working with Misys to enable our joint customers to take full advantage of the service.”