11 July 2002: Three Misys Clients Implement Swift XML Module

Three Misys Securities Trading Systems clients have signed up for the company’s new Market Settlement Swift XML module. The system effectively introduces a real-time interface between Misys’ back- and front-office trading and settlement systems.

Lazard Capital Markets, Gulf International Bank and ICAP have all added the system recently.

Nick Cook, vice president and head of operations at LCM, says the project will afford Lazard compliance with the Swift ISO15022 standard when it replaces the ISO 7775 standard in November.

Gulf International Bank plans to add the Swift XML module using the Misys Meridian development toolkit, which it implemented in August 2001 as part of its middleware infrastructure. It, too, will be using the module to achieve ISO 15022 compliance.

ICAP, which is also implementing the Swift XML module using the Meridian toolkit, has managed to replace several in-house settlement systems. The broker says ISO 15022 has been a key driver.