Today, more than 800 corporates and financial institutions went live with a new confirmation matching module for OTC derivatives provided by Misys, a software and solutions company. The module enables automated post-trade confirmation matching in OTC derivatives and commodities through Misys’ matching solution, Treasury Plus.
Today’s release of the latest version of Misys Treasury Plus V1.5 introduces an ‘instrument wizard’ which the firm says adapts the solution to a broader range of capital markets instruments. Corporate treasurers, compliance officers and their banking counterparties, who need to reduce the window of risk between trade date and confirmation, stand to benefit. A confirmation process that normally takes three to ten days can be reduced to less than 24 hours, says Misys.
The new module provides a single window for both the buy- and sell-side to confirm OTC derivatives and commodities transactions. The system can accept any FpML standard subset. The document approval and affirmation process provides the ability to attach a contract or any document to the trade so that it may be reviewed and affirmed by the counterparty.
Gilmore Bray, global head of product development, Global Managed Services, Misys comments, “With this automated and flexible translation and matching mechanism, both counterparties are able to leverage the speed and convenience of Misys Treasury Plus for all their confirmation matching needs, instead of having to maintain multiple interfaces to confirm multiple instruments, which can be costly, slow and inefficient.”