Global application software and services company Misys has launched a new enterprise market risk solution for financial institutions. Called Misys Risk, the solution enables financial institutions to measure, control and manage risk across multiple asset classes, instruments, portfolios and systems. According to Misys, the new solution also helps users to meet evolving risk and regulatory requirements such as Basel.
“Misys enabled us to implement a Basel 2.5 component for internet relay chat in a very short timeframe without needing to disrupt out entire risk framework,” said Michele Bonollo, head of IT risk management at Banco Populare, which has just implemented Misys Risk. “The tight integration of the Misys Risk framework with Misys’s trading solution Sophis Risque enables us to capture all the risk sources in our portfolios and to get new insights and risk figures easily.”
While other similar systems may rely on complex architectures and disparate components, Misys says its new solution leverages existing front office trading infrastructures, reducing the cost, risk and time of implementation. It is also designed to work closely with multiple front office trading systems to provide one dedicated solution for all risk management functions.
“The ‘new normal’ of risk management today will require firms to disseminate cohesive and usable intelligence related to a true firm-wide picture of risk,” said Cubillas Ding, director of research at Boston-based Celent. “Hence, the traditional incongruity between market-facing units, risk, treasury and finance functions in relation to risk taking, risk control and risk mitigation activities will need to be more tightly orchestrated in a joined-up and ‘live’ manner at the point trading on a pre-deal basis, not after.”
Misys employs 4,000 staff in more than 120 countries globally. According to the firm it has a portfolio of more than 1,300 customers including the world’s top 50 banks.
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