LONDON, September 9 /PRNewswire-FirstCall/ -- Misys plc (LSE: MSY), the global application software and services company, today announces it has extended its world-leading post-trade confirmation solution, Misys Confirmation Matching Service (CMS), to handle OTC derivative and commodity fax confirmations.

Today many OTC structured trades must be delivered by fax due to lack of standards. Misys has developed the capability using optical character recognition (OCR) and Dynamic Document Capture (DDC) to scan an incoming fax, create a trade stub identifying the trade and present the trade stub and a PDF of the fax to the counterparty for confirmation through Misys CMS.

The post trade confirmation process for OTC derivative and commodity trades is manual, which increases the operational processing risk on each and every trade. With regulators seeking to increase automation rates for all traded instruments, confirmations by phone and fax are not only inefficient, but contrary to the spirit of the regulators intent. Misys CMS automates the process by providing an on-line affirmation service with a complete audit trail and on-line document history. This reduces operational processing risk and cost. This additional functionality allows financial institutions to dramatically increase efficiency when sending confirmations to their commercial clients leading to reduced risk and improved customer service and satisfaction.

"Minimizing the time and resources needed for trading and post-trade activities is a key concern for financial institutions," states Gil Bray, Solutions Director, Misys CMS. "An increased emphasis on transparency means that customers expect a higher degree of automation and more efficient confirmations. Our OTC Document Automation Service, which is SAS 70 Level 2 certified can now provide a standardized repeatable approach which fully harmonises processes across multiple instruments. This results in reduced risk, higher cost savings and a more efficient process which clients and counterparties appreciate."

Gil Bray adds, "We are constantly expanding the capability of Misys CMS to offer our clients greater efficiency, performance and security. This increased capability allows Misys to provide clients with a single window into their post-trade confirmation activities significantly improving risk management through an automated exact confirmations process with full audit trail, alongside a shortened confirmation cycle, which reduces costs and processes. In turn, these changes allow for heightened transparency."

About Misys plc

Misys plc (LSE: MSY), provides integrated, comprehensive solutions that deliver significant results to organisations in the financial services and healthcare industries. We maximise value for our customers by combining our deep knowledge of their business with our commitment to their success.

In banking and treasury & capital markets, Misys is a market leader, with over 1,200 customers, including all of the world's top 50 banks. In healthcare, Misys plc owns a controlling stake in NASDAQ-listed Allscripts-Misys Healthcare Solutions, Inc, a clear leader in the provision of healthcare technology, serving more than 150,000 physicians, 700 hospitals and nearly 7,000 post-acute and homecare organisations. Misys employs around 6,000 people who serve customers in more than 120 countries.

We aspire to be the world's best application software and services company, delivering results for the most important industries in the world.

    Misys: experience, solutions, results
    Contact us today, visit: http://www.misys.com

    For further information please contact

    Edward Taylor
    Global Head of Public Relations
    Misys
    Solutions for Banking
    Solutions for Treasury & Capital Markets
    +44(0)20-3320-5530
    edward.taylor@misys.com

    Sebastian Mathews
    FD
    +44(0)20-7269-7158
    sebastian.mathews@fd.com

SOURCE Misys plc