22nd April 2003

Embargoed until 07:00BST (06:00 GMT)

 Misys acquires Crossmar® Matching Service (CMS) from Citicorp

                         CMS will complement existing                          

                   Misys Wholesale Banking Systems solutions                   

Misys plc, the global software products and solutions company, today announces
it has acquired Crossmar® Matching Service (CMS) from Crossmar, Inc., a
subsidiary of Citicorp.

CMS provides a confirmation matching service aimed primarily at foreign
exchange/money market (FX/MM) transactions between banks, their corporate
customers and fund managers. The CMS matching engine handles in excess of
US$100bn of FX/MM transactions for over 750 customers worldwide.

CMS will become part of Misys Wholesale Banking Systems and be renamed Misys
CMS. The core CMS management team - including CTO Raymond English, Sales and
Marketing Director Gilmore Bray, Vice-President Cynthia Anasson and Product
Manager John Hawkins - will be among more than 50 staff transferring to Misys
Wholesale Banking Systems. International offices will be merged with existing
Misys offices in New York, London, Tokyo and Singapore.

The acquisition, for US$13 million in cash, brings to Misys the CMS platform,
infrastructure and further expertise in Web services. This will provide added
impetus to enable future Application Service Provider (ASP) hosted service
development across other Misys banking solutions.

Ivan Martin, Chief Executive of the Misys Banking and Securities Division,
commented: "The need for independent trade confirmation is more urgent than
ever. With intense pressure from regulators to keep trading and back office
operations clearly separated, the CMS offering is an essential tool for those
engaged in FX/MM transactions.

The CMS acquisition complements our established and highly successful wholesale
banking business, which already has substantial experience of handling
interparty trades via the SWIFT payment network. CMS is a proven,
functionally-rich service based on advanced Internet technology and already
enjoys high levels of customer satisfaction and loyalty. We aim to maintain and
grow those levels of satisfaction so that all of our customers receive a
world-class service."

Gilmore Bray, Sales and Marketing Director, CMS, added: "CMS clients will
benefit substantially. Misys will enable us to broaden the financial
instruments matched on CMS, enhance functionality, and provide clients with
seamless interaction with counterparties and internal systems. Misys is a
firmly established market leader in developing financial software solutions and
is well positioned to provide a solid foundation for growth."

For further information:

Paul Charles, Head of Communications, Misys plc       

020 7368 2315 / 07769 880991

paul.charles@misys.co.uk

 

About Misys plc

Misys plc, the global software products and solutions company, serves customers
in the international banking and securities, US healthcare, and UK retail
financial services sectors. Misys partners with its customers to deliver
outstanding IT solutions to essential industries. For the year ended 31 May
2002, Misys reported revenues in excess of £1 billion. Misys employs over 6,500
people internationally. www.misys.com

     



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