Misys, the global application software and services company, has announced that Illinois-based PrivateBank has selected Misys Opics Plus to support its foreign exchange and interest rate derivatives business.
Reportedly, the solution which has been deployed on a Software as a Service (SaaS) basis, went live using the Misys Quick Start implementation. Moreover, PrivateBank will use the Opics Plus solution as a key application for its front office, back office, accounting and risk management.
According to the Misys, Opics Plus gives traders access to immediate information thus facilitating their decision making process. It provides real-time position and P&L reporting. Back-office will utilise the system’s event-based workflow manager to confirm deal and payment information with counterparties and send automatically generated confirmations. The integrated front-to-back system will provide for reconciliation and regulatory reporting.
Camille Rudge, managing director, capital markets at PrivateBank, said: “It was important for us to choose the right partner to support us as we expand our Capital Markets business. The Opics Plus solution provided us with the right combination of technology and support to serve our clients and continue to expand our business.”
