Landesbank Baden-Wurttemberg bank has become the first bank globally to implement a new complex options solution from Misys, a provider of application software and services, as part of a wider upgrade in its back office treasury operations.
The new complex options module within Misys Opics Plus will expand the bank’s complex OTC products business while upgrading its back office will cut end of day batch processing times by half and improve risk management. Landesbank Baden-Wurttemberg (LBBW) has been seeking to expand coverage in OTC complex options, a key product type in the bank’s growth strategy for financial markets, and following a strategic review, chose to work with Misys as a beta customer for the new complex options module.
The bank also sought to strengthen its back office technology for improved STP, and decided to become one of the first institutions globally to upgrade to Misys Opics Plus 1.6, an award-winning front-to-back, cross-asset solution that processes a wide range of financial instruments. The Misys Opics Plus solution handles vanilla and complex derivatives, fixed income, and equity and treasury trades and enables higher volume trading, better risk management, and increased margins through greater operational efficiencies. In LBBW it will be used as platform for all Money Market and FX transactions.