China’s Bank of Communications is implementing Misys Banking Systems’ ‘Opics’ system to manage transaction workflow of treasury trades in its Shanghai head office.
The platform is being installed as the bank’s central processing tool and is being integrated with existing applications including its front office trading application. Phase 1 is expected to go live by the end of 2006.
A major part of the project at BOCOM is to implement the Workflow Manager option of Misys Opics to consolidate back-office and operations processing, which will manage STP exceptions and improve efficiency at the bank.
Misys Opics will enable the bank to consolidate across a wide variety of instrument types, included Foreign Exchange, Fixed Income, OTC Options, Caps, Collars, Floors and Swap Options, repurchase agreements, deposits and loans, FRAs and futures.
Workflow Manager compliments the suite by centralizing back-office and operations processing, updating in real-time, and allowing users to define, amend and manage their own workflows and procedures including confirmation matching, hedge accounting and cash management.
Murray Sargant, managing director, treasury & capital markets Asia, Misys Banking Systems, said the work-flow manager capabilities of Misys Opics give the bank an excellent solution to their STP requirements.