Misys, the application software and services company, was awarded ‘Best Trade Processing product’ for the second year in a row for its innovative web-based trade processing solution, Misys Confirmation Matching Service (CMS) – formerly Misys Treasury Plus – at the annual European Banking Technology Readers’ Choice Awards dinner in London on 6th November 2008.

Banking Technology’s readers were asked to vote on what they consider to be the best solutions in a range of categories. Voting through a web-based system, more than 1,000 votes were cast, with Misys shortlisted in two categories. In the end, Misys CMS, a leading post-trade confirmation-matching service used by more than 850 banks, fund managers, and corporations globally to match and settle trades, was announced as a Readers’ Choice winner.

One prominent customer using Misys CMS is British retailer, Tesco. Adam Boukadida, Treasury Systems Manager at Tesco Plc comments: “Since implementing Misys CMS, the number of trades confirmed electronically has risen by 80% and we’re now looking to push this as close to 100% as possible. Our previous confirmation matching system offered limited instrument coverage and did not fully integrate with our treasury management system. Misys CMS was able to demonstrate its broad asset class coverage, and full two-way integration with our treasury management system.”

The Readers’ Choice Awards were created to recognise the fact that financial institutions are increasingly turning to independent software providers in search of solutions to a range of issues that would once have meant an expensive bespoke development.

Neil Macro, Head of Sales EMEA, Misys Confirmation Matching Service, comments: “It’s fantastic to win this award for a second year in a row. We’ve recently added major new functionalities to our fully hosted and web-based solution including a redesigned standing settlement instructions summary screen, which allows users to customize and simplify views and the ability to run reports and view billing details for OTC, Commodities and Universal Trade Confirmation (UTC) activities.I believe our clients are feeling the added benefits of our innovation to their businesses.”

Misys Solutions for Treasury & Capital Markets has 18 years of experience and unrivalled software development expertise. It creates integrated, comprehensive solutions for financial institutions to manage their capital market activities across multiple asset classes.