KONDOR+ E-TRaDiNgaNy TimE, aNy placE, aNywhERE

Kondor+, the market-leading trade and risk management solution now incorporates a sophisticated e-Trading capability. This reflects the importance of e-Trading to the core banking operation, and meets the needs of banks to offer a quality service to subsidiaries, branches and corporate or institutional clients – all from a single platform.

E-Trading takes advantage of Service Oriented architecture (SOa) to deliver a system that is robust, scalable and will grow with the business.

it uses the web 2.0 user interface to provide a highly flexible, easily configurable, intuitive user experience, which delivers all of the benefits of Kondor+ to banks and their clients any time, any place, anywhere.

This new development continues the Kondor+ commitment to banks: to enable them to make decisions faster than their competitors while relying on the accuracy, consistency, and real-time availability of information on their trading portfolios and positions.

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Kondor+ e-Trading

NEw challENgEs

A balancing actwith increasing trading volumes and pressure on margins, banks are trying to grow revenues by balancing complex high-margin products with low-margin ‘flow’ products. This has led many to look long and hard at their systems to ensure that they are able to cope efficiently with increased volumes while supporting strategies for simple and complex structured products.

There is a real focus on ‘cost per trade’ and the ability to reduce the number of manual interventions: costs need to be reduced and efficiency increased. Straight-through processing (STp) is a key concept here – right across the operation.

Less is more…fragmented trading, risk management and branch trading architectures are the result of a multiplicity of systems used to support specific asset classes, lines of business or geographies. These are proving major obstacles to STp. They are neither cost efficient or helpful either to traders and risk managers who need to move quickly to seize new opportunities in fast-moving markets. consolidation and rationalization is vital.

…But more is sometimes neededThis is especially true of asset coverage at branch level. The ability to offer any instrument or combination of instruments in structured products, supported by the appropriate tools (pre-deal compliance checks, quote engine, margining tools and so on), is the basis for a partnership approach where the bank is supporting its clients in all aspects of their business needs with the appropriate financial instruments.

Speed is king…Rapidly changing markets offer great opportunities for those banks agile enough to develop and deliver new products across any asset class or instrument quickly. There has typically been a lag between the creation of a new instrument and the ability to offer it via the branch: improve time to market for new products at branch level and the bank gains an important differentiator.

…And so is the customerin a highly competitive marketplace, it is essential to offer superlative customer service. This means responding swiftly to the customers’ needs and making it easy for them to improve their own client offering.

E-Trading supports ‘white labelling’ by banks, enabling Kondor+ functionality to be merged with the banks’ own systems, accessible via an existing web portal and available with the banks’ own branding.

Less risk, more controlbanks are striving to adopt the most responsible approach to their business through compliance with external regulations and internal procedures. compliance can pose a challenge

to traders, involving multiple systems with separate checks and measures that need to be executed. This is particularly true in branch trading or ‘white label’ scenarios. compliance checks should be carried out automatically and transparently to the user.

whaT DOEs KONDOR+ E-TRaDiNg DElivER?

Reduced TCOE-Trading allows banks to leverage their existing investment in Kondor+, and make its extensive capabilities available to their branches and clients as a web-based service. There is no need for a separate installation, no additional costs for interfaces, it is easy to deploy and easy to maintain. This translates into a lower total cost of ownership (TcO) and reduced operational risk for the bank.

Empowered branches, increased controlThanks to the seamless integration between e-Trading and Kondor+, banks can empower their branches and clients, while still ensuring transparency and control through all stages of processing, right across the organization, as a result of:•use of a single system throughout for trading and risk

management, removing the need for interfaces and so reducing operational risk

•use of consistent data throughout the organization, with everyone working from the ‘true view’

•full STp, through back and front office integration, eliminating errors related to manual intervention

•Tools to manage pricing and regulation•fully integrated compliance checking for limits, risk

and collateral

Faster time to market for new productsThe module gives the branch the tools needed to design products for clients across all instruments and to price and trade new products immediately. This includes structured products, fX/mm, securities, traded derivatives, over the counter (OTc) derivatives and commodities. The result is increased agility for the branch in responding to market opportunities.

Full STP to branch and clientsNow, in addition to traders using Kondor+ directly, branches can use the system via the bank intranet or web browser.because of the seamless integration of e-Trading with Kondor+, the need for interfacing is removed. This means that comprehensive real-time STp can be extended right through the organization and affiliated offices, across all asset classes from vanillas to exotics and structured hybrids.banks benefit from improved data consistency across the organization with front, back and branch offices sharing the same financial libraries, such as reference, trade and market data and overheads are reduced with less manual intervention required during processing.

Kondor+ e-Trading

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Highly configurable workflow between treasury and branchE-Trading extends the Kondor+ capability to define context-sensitive, highly configurable workflows to the branch trader and client. This means that banks are able to configure ‘views’ to reflect the specific requirements of each of their end-users, in terms of real-time positions, activities and flexible reporting.

E-Trading provides access to the Kondor+ integrated auto trading tool. This means that clients can be given an immediate tradable rate, reducing or removing the need for trader intervention. This is more efficient, faster for the client and enables the branch to handle higher trade volumes.

a ‘what if’ simulation tool is also incorporated, leveraging the full capability of the Kondor+ risk engine to allow traders to take account of different market scenarios and assess the risk associated with each.

all of this helps to increase the operational efficiency and resilience of the bank.

Tradable quotes through powerful quote engineE-Trading offers quote engines for all instruments, including OTc options and derivatives. These engines, in conjunction with powerful rule based margining tool, allows the offering, and publishing, of tradable quotes for all financial instruments. based on the banks specific requirements, additional Request for quote and negotiation workflows are supported for any instrument type.

Compliance checkingfully integrated compliance checking for limits, risk and collateral is included in e-Trading, eliminating the manual process of checking status and giving traders immediate alerts, on the deal capture screen, as to whether individual trades are compliant with the relevant regulations or internal bank policy. The primary objective is to provide this simple alert without interfering with the trader’s main activities.

Embedded CRmTypically, the branch has its own cRm database while Kondor+ has another.

E-Trading’s open design enables the branch cRm system to be seamlessly integrated with Kondor+, so removing the need for the end-user to look at two different systems, and providing a complete, unified view of the customer with easier access to customer information.

Intuitive user experienceE-Trading incorporates a new portal, the web 2.0 user interface; a modern interface that includes the ability to stream data. use of a ‘thin client’ approach means flexibility coupled with a rich end-user experience, with real-time, responsive capabilities.

Full reportingas you would expect of a Kondor+ module, full access is provided to reports and pricing: position reporting, p&l calculation, cash flow, liquidity, risk and sales activity.

Misys is at the forefront of the fi nancial software industry, providing the broadest portfolio of banking, treasury, trading and risk solutions available on the market. With 1,800 customers in 120 countries our team of domain experts and partners have an unparalleled ability to address industry requirements at both a global and local level.

Misys was formed by the merger of Misys with Turaz, which includes the award-winning Kondor+ product line. Combined they are able to address all customer requirements across both the banking and trading book businesses. Misys is the trusted partner that fi nancial services organisations turn to for help solving their most complex problems.

aBOUT MisYs

misys and the misys “globe” mark are trade marks of the misys group companies. copyright© 2012 misys. all rights reserved. Find out more at www.misys.com

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