Misys, a global supplier of IT solutions to the banking industry, said it has partnered with SmartStream Technologies to deliver improved risk control and greater efficiency across the entire trade transaction lifecycle.

The partnership brings together two leading software providers to deliver a range of solutions that provide broad connectivity to market participants and exchanges, improve processing efficiencies and reduce operational risk throughout the transaction lifecycle, said a company statement.

The partnership will extends Misys Summit’s reach further into the exchange traded arena with SmartStream components for reconciliation, exceptions handling, corporate actions coverage and links to industry third parties, it added.

SmartStream’s market-leading reconciliation software will be embedded into Misys Summit FT and Opics Plus to provide additional transaction matching, exceptions and investigations management to Misys’ award-winning solutions.

Larry Mitchell, VP Solutions Management, Treasury & Capital Markets at Misys, said, "SmartStream’s exceptional reconciliations expertise, its strength in cash management and exchange-traded instruments, as well as the strong links its solutions have with prime brokers, custodians and confirmation venues, all add great value to our offering."

"This partnership brings two complementary sets of solutions together to enable financial institutions to grow through innovation, improve management of liquidity and reduce costs through operational risk control and streamlined processes," he noted.

Philippe Chambadal, CEO of SmartStream Technologies, said, "As a market leader in transaction processing management, we understand the  post-trade matching, exception management and investigations needs of institutions regardless of size, processes, or lines of business."

According to Chambadal, the combination of its knowledge in reconciliations and Misys’ deep expertise in treasury and capital markets processing brings the market a joined up solution that significantly adds value to both our business propositions.

"Crucially this partnership removes many of the integration elements for joint SmartStream and Misys clients that would previously been managed by in-house teams, enabling firms to reduce implementation costs and timescales, and delivering a faster time to market," he added.-TradeArabia News Service