LONDON, June 7, 2010 /PRNewswire-FirstCall/ --
- Ground-Breaking Partnership Extends the Breadth of Processing Capabilities in Misys Summit FT
Misys plc (LSE: MSY), the global application software and services company, today announces that it has partnered with SmartStream Technologies to deliver improved risk control and greater efficiency across the entire trade transaction lifecycle.
The partnership brings together two leading software providers to deliver a range of solutions that provide broad connectivity to market participants and exchanges, improve processing efficiencies and reduce operational risk throughout the transaction lifecycle.
SmartStream's market-leading reconciliation software will be embedded into Misys Summit FT and Opics Plus to provide additional transaction matching, exceptions and investigations management to Misys' award-winning solutions. Both Summit's and Opics Plus' broad cross-asset coverage including OTC derivatives, fixed income, FX, Equity and structured products, will be enhanced further with the capabilities from SmartStream's TLM software. Additionally, customers using Misys Opics Plus will benefit from the cash management and nostro reconciliations improvements resulting from the partnership.
Larry Mitchell, VP Solutions Management, Treasury & Capital Markets at Misys, comments, "SmartStream's exceptional reconciliations expertise, its strength in cash management and exchange-traded instruments, as well as the strong links its solutions have with prime brokers, custodians and confirmation venues, all add great value to our offering. This partnership brings two complementary sets of solutions together to enable financial institutions to grow through innovation, improve management of liquidity and reduce costs through operational risk control and streamlined processes."
Philippe Chambadal, CEO, SmartStream Technologies adds, "As a market leader in transaction processing management, we understand the post-trade matching, exception management and investigations needs of institutions regardless of size, processes, or lines of business. The combination of our knowledge in reconciliations and Misys' deep expertise in treasury and capital markets processing brings the market a joined up solution that significantly adds value to both our business propositions. Crucially this partnership removes many of the integration elements for joint SmartStream and Misys clients that would previously been managed by in-house teams, enabling firms to reduce implementation costs and timescales, and delivering a faster time to market."
The partnership will extends Misys Summit's reach further into the exchange traded arena with SmartStream components for reconciliation, exceptions handling, corporate actions coverage and links to industry third parties. It will also add significant value to Summit Invest, the Misys cross-asset buy-side solution, offering reconciliations capability, along with integration to market-leading services such as Omgeo and links to custodians and prime brokers.
As a result, the fully automated solution from SmartStream and Misys brings greater visibility into the reconciliations and exceptions management area for clients, a more cost-effective operation with decreased risk and ultimately higher return on investment through end-to-end exceptions-based transaction lifecycle processing of trades.
Users of the Misys Summit ASP solution will benefit from the SmartStream Technologies solutions as it enables smaller market players and buy-side organisations to benefit from these combined market-leading systems, with more flexibility, speed to market and lower total cost of ownership.
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
About SmartStream Technologies
SmartStream Technologies is a recognised leader in financial transaction management software that enables firms to overcome critical transaction processing issues through increased automation.
SmartStream's industry-leading automated match rates create more proactive, exceptions-based processes that lower the cost per transaction while enabling firms to reduce operational risk, strengthen compliance and controls, and improve customer service.
As a result, more than 1,000 clients, including 75 of the world's top 100 banks, 8 of the top 10 asset managers, and 8 of the top 10 custodians rely on SmartStream Transaction Lifecycle Management (TLM(R)) solutions to deliver greater efficiency to their trading operations.
For more information about SmartStream and our solutions visit: http://www.smartstream-stp.com
For further information please contact Edward Taylor Global Head of Public Relations Misys Solutions for Banking and Treasury & Capital Markets +44(0)20-3320-5530 firstname.lastname@example.org Sebastian Mathews Financial Dynamics +44(0)207-269-7158 email@example.com
SOURCE Misys plc