Misys Financial Systems has reported rapidly accelerating growth in the number of EDI transactions handled during the first quarter of 2004.

The software provider recorded a year on year rise in the number of transactions made by its brokers of 9% in January, 13% in February and 25% in March. The March figure corresponds to a total of 300,000 transactions.

Misys Financial Systems head of insurance services Helen Barker put the growth down to new products that have gone live in recent months, coupled with the strengthening position of Misys brokers in the market.

She said: "We have put 56 new EDI products on the Misys system since January and brokers now have access to a total of 459 electronic products.

"As the market continues to consolidate, our user numbers have increased, and we are dealing with larger brokers who have more staff accessing the Misys system."