Icelandic investment company chooses Misys hosted trading platform to support rapid growth
- Leading Icelandic investment company, Gnupur, to implement Misys Summit ASP solution to boost trading ability and capitalise on major growth in Iceland’s equities and credit derivatives sector
- New system will address problems of manual inputting and complex instrument coverage
4 June 2007 – Gnupur, an Iceland investment company has signed a deal with Misys, the leading treasury and capital markets solutions provider, to implement its Misys Summit ASP hosted service. The deal, announced today, will create new revenue opportunities for the firm and support its rapid growth domestically and overseas.
Misys Summit ASP is the web-hosted version of the software provider’s Summit FT treasury solution and offers rapid delivery along with sophisticated trader tools and risk management for handling all instrument classes front-to-back. The solution will enable the wealth management firm to automate processing and provide complete management over the trade lifecycle. Gnupur is now projecting a dramatic fall in the time spent by its investment advisors inputting trade data. Automating the trade process will reduce the operational risks associated with manual data entry.
Significantly, the wealth of coverage provided by hosted system will allow Gnupur to expand its trading coverage of complex instruments. Additionally, the scalability of the Misys Summit ASP system will allow Gnupur to extend functionality as the market grows.
Commenting on the move, Þórhallur Jóhannsson, Managing Director Risk Management for Gnupur, says: “We have ambitious plans for growth in Scandinavia and the UK, and implementing the right front-to-back solution across various instruments is essential for achieving our income and profitability targets. Our challenge was to find a partner that would implement in a short timeframe and give us the scalability we will need for future growth domestically and abroad. When we looked at the market, the Misys Summit ASP platform was the only solution that met all of our needs. Having a safe and secure environment for trading, with no hardware costs, is also good for our reputation.”
Bent Winkel, an Account Manager with Misys Treasury and Capital Markets business, brokered the deal. He adds: “Misys Summit ASP solutions already support a large international community of hedge funds, smaller banks and corporate treasury departments. We’re looking forward to helping the business achieve its growth targets.”
Misys Summit ASP is the web-hosted version of Misys Summit FT, a proven, technologically advanced, multi-asset class solution for treasury and capital markets that speeds up innovation, reduces operational risk and improves STP.
Misys Treasury & Capital Markets has 17 years of market experience and unrivalled software development expertise. It creates integrated, comprehensive solutions for financial institutions to manage their capital market activities across multiple asset classes.
For further information or to request an interview with a Misys spokesperson, please contact:
Stephen White
Stephen White
Misys Treasury & Capital Markets
t. +44 (0) 208 486 1661
About Misys
Misys plc (FTSE: MSY.L), the global software and solutions company, is one of the world’s largest and longest-established providers of industry-specific software. Founded in 1979, Misys serves the international banking and healthcare industries, combining technological expertise with in-depth understanding of customers’ markets and operational needs. In banking, Misys is a market leader, specialising in both the treasury and capital markets and core banking areas, having over 1,200 customers, including all of the world’s top 50 banks. In healthcare, Misys is also a market leader, serving more than 110,000 physicians in 18,000 practice locations, 1,200 hospitals and 600 home care providers. Through Sesame, a wholly-owned subsidiary, the company is also a leading provider of support services to financial advisers in the UK. Misys employs around 6,000 people who serve customers in more than 120 countries. For more information, visit www.misys.com
