Misys is already seeing encouraging take-up of its FusionCorporate Confirmation Matching Service (Misys CMS), with Bankinter having just made a seamless transition to the solution in only eight days. The Spanish bank was able to continue processing its post-trade confirmations for FX and money market transactions with no interruption as a result of the ease of integration with existing processes and proven Software-as-a-Service (SaaS) model delivered by Misys CMS.
During the phase-out of SWIFT Accord, Misys is working closely with SWIFT. Misys CMS utilises SWIFT’s message copying service that allows for copies of confirmation messages exchanged between companies to be delivered in real-time to Misys CMS service for automated matching. This ensures no changes are required to message formats or internal processes, removing the risk of disruption in service during the transition phase.
There are significant numbers of banks, investment managers and corporates using SWIFT’s Accord service. These will need to find an alternative solution before the end of October 2017, when the service is due to cease.
Over nine million trade confirmation matches are made on Misys CMS each year.
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