Global leading banking software provider Misys Banking Systems (Misys) announced recently its intention to strengthen its presence in China with a specialized team focused on the country's capital markets arena, based in Beijing.

The move shows the firm's objective to further enhance its product offering and to respond to clients' growing business needs.

The impetus for this focus comes from the huge transformation in China in recent years, offering the potential for double-digit growth for institutions operating in the financial services market.

"We are finding that the treasury and capital markets area in China is increasingly seeing newly listed financial institutions driving significant revenue in a more deregulated market place," said Murray Sargant, managing director at Asia Pacific for Treasury & Capital Markets, Misys Banking Systems.

China offers huge growth potential, particularly given the significant rise in the foreign exchange trading and the birth of the derivatives market, he continued.

"With our world-class solutions in this sector comprising Misys Opics, Misys Summit and Misys Loan IQ, we offer clients the technology to take advantage of this burgeoning market."

Earlier in August Misys joined forces with Bank of Beijing to develop the bank's capital management system and international settlement system with its Misys Opics and Misys Trade Innovation solutions.

The software helped Bank of Beijing to realize its STP (straight-through processing) international settlement and strengthen the bank's capability for derivatives business, said Zhao Rui'an, vice-governor of Bank of Beijing.

Last month, China Zheshang Bank, which was founded in August 2004, chose Misys to provide its treasury management system, Misys Opics, which offers full multi-asset class coverage for trading, risk and operations.

Currently in China, Misys has a number of consultants and full-time staff with treasury and capital markets expertise in its Beijing office, with projects ongoing in Beijing, Tianjin and Shanghai. So far Misys' clients in the country also include China Bohai Bank and Bank of China. And the company is expected to strengthen its position over the next six months, Sargant said.

Source: China Daily