Misys CMS Launches New SSI Service
Misys Wholesale Banking Systems has launched its Standing Settlement Instructions (SSI) web-based maintenance and notification service developed by its CMS product division.
Misys Wholesale Banking Systems has launched its Standing Settlement Instructions (SSI) web-based maintenance and notification service developed by its CMS product division. This service offers an efficient, low cost, maintenance tool that helps corporate investment managers, brokers and banks manage risk and achieve straight-through processing (STP). The Misys SSI service was developed under the direction of leading investment managers, multi-national corporations, and financial institutions. Together with the Misys CMS matching service, SSI addresses the need for an effective confirmation and settlement matching service for the foreign exchange (FX) market. SSI is used to create and maintain correct, consistent and concise settlement instructions in SWIFT formats, which can be shared between counterparties and other interested parties.<br><br>"With the introduction of the Misys SSI Service, FX market participants will finally be able to conform to the Federal Reserve Bank of New York FX Committee's Best Practice guidelines as outlined in their March 2003 Management of Operational Risk in Foreign Exchange Report," said Gilmore Bray, Misys CMS product manager.