IBS Journal December 2015


Misys launches new capital markets solution, FusionCapital 2.0


Misys has launched FusionCapital 2.0, a new services solution for banks to address their technology modernisation pains without major ‘rip and replace’ projects. FusionCapital represents a shift away


from ‘black box’ solutions towards compo- nents that can be independently updat- ed and reused across the entire platform, states the vendor. Denny Dewnarain, global head of cap-


ital markets, Misys, says that eight banks – mainly tier 2 and a couple of tier 3 – are currently in implementation mode, with first go-lives anticipated before Christmas. FusionCapital has been in the making


since 2011 and is built from the ground up, states Dewnarain. ‘We interviewed many of our clients,


from tier 1 to tier 3 and 4 banks as well as internal teams at Misys, to see how to make running the software less costly and more agile, as well as cater for the future require- ments, not just the current ones.’ Seven major functional areas of


improvement were identified – the hori- zontal services that would be applied enterprise-wide. The main drivers, notes Dewnarain, are the cost of processing, transparency, coherency and optimisation. These seven services were then devel- oped from scratch to comprise Fusion-


Capital 2.0. They include pricing, treasury optimisation, market data quality and cali- bration, collateral, access to information from any device and connectivity/seamless integration. More services are in the pipeline. ‘We see post-trade processing as the


logical first step in the transformation jour- ney,’ Dewnarain says. Streamlining back office processes can also provide ‘a new revenue stream for the banks that take a utility model approach and resell their ser- vices’, he adds. ‘We want to guarantee our custom-


ers that whatever systems they are using, they‘ll have the visibility of costs of running the bank.’


Early adopter: Natixis Natixis, a long-standing customer of Misys on the treasury and capital markets software front, is cited as an early adopter. The bank is using a predecessor version of FusionCapital 2.0 for its back office and regulatory reporting needs. Natixis wanted to ‘industrialise’ its


post-trade processing and also to create an agile, independent regulatory hub that could be easily adjusted, says Dewnarain. The next stage of the project will tackle the middle office at Natixis.


Francois Le Guillou, IT group manager,


Natixis, says that the bank’s per-trade back office costs have been reduced and sys- tems consolidated. ‘We started with fixed income and con-


solidated our systems onto the FusionCap- ital platform. We already have better over- sight and control of our activities in this area as a result. ‘Our next step is to have a single data


source for fixed income and equity prod- ucts, so that we can handle regulatory requirements more easily, as we will only need to make changes once, on a single application.’


Tanya Andreasyan Denny Dewnarain, Misys


Nasdaq’s X-stream trading platform gains new taker in Mexico


Nasdaq and Bolsa Institucional de Valores (BIVA) have announced a partnership to help the latter implement the former’s X-stream trading technology in a new Latin American exchange. X-stream, according to Nasdaq, is the


world’s most widely used exchange trading platform and powers more than 30 markets globally. BIVA will also be implementing the company’s Smarts for surveillance solution. The new exchange initiative is cur-


rently seeking final approval from Mexico’s Ministry of Finance. The system falls in line, according to BIVA, with financial reforms


planned and approved by the Mexican government. Every single security currently trad-


ing in Mexico will be able to appear on the new BIVA exchange on day one, while new users will have the option of choosing the exchange in which they can have their pri- mary listing. The exchange will benefit ‘investors


and market participants alike’ says Lars Ottersgård, executive vice-president and head of market technology at Nasdaq. It will, he adds, ‘join a long list of the world’s most powerful exchanges’.


© IBS Intelligence 2015


Nasdaq Globetrotters Users of Nasdaq’s X-stream platform include the Philippine Stock Exchange, Dhaka Stock Exchange and Borsa Istanbul.


Nasdaq has been making waves in


recent times by investing heavily into distributed ledger technology. It has launched its new blockchain-powered trading platform, Linq. The exchange firm has also been part of a group of investors that sunk $30 million into blockchain start-up Chain.


Alex Hamilton www.ibsintelligence.com 19


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