8 September 2008 – Misys (FTSE: MSY.L), the global application software and services
company, today announced the latest major release of its flagship treasury and capital
markets trading solution. Misys Summit FT V5.3, incorporates several new major modules
including a new solution for equities trading, a new system dedicated to structured bonds,
and also a new market risk limits offering for extensible business wide risk and compliance
monitoring.
In the wake of the credit crunch, many financial institutions are looking to rationalise
systems, but without compromising their ability to model each asset class in the most
accurate and efficient way, and without reducing their ability to analyse risk, manage large
books and process lifecycle events. At the same time, increasing use of complex
instruments such as convertible bonds, which require equities as an underlying, together
with strong growth in structured bond issuance, has created growing market need to
operate all asset classes in one front-to-back solution. Misys Summit FT V5.3 significantly
strengthens Misys’ offer in cross-asset transaction processing and enables firms to
achieve these goals of rationalising systems and managing trade sophistication.
Stephen Bruel, Analyst at TowerGroup states: “Cross-asset-class trading continues to
emerge as a requirement for the buy side and the sell side and firms require systems to
demonstrate five key strengths: flexibility in structuring new products, configurability to
adapt the solution to different needs, scalability to take new products to market quickly,
extensibility to allow new tables to be created, and processing speed so they can run risk
reports and react quickly to market-moving events.”
Dan Cohen, Solutions Manager for Misys Summit FT states: “Our customers are telling us
they want to reduce costs and operational risk, and system rationalisation can help on
both fronts. Up until recently, no one product has provided a single end-to-end solution
across asset classes, causing banks to adopt a silo-ed approach. This release of Misys
Summit FT gives banks an opportunity to integrate all their asset classes, including
equities, without making any compromise on the depth of functionality in any asset class.
This ultimately helps reduce IT spend and improve risk management.”
Major new offerings within Misys Summit FT V5.3 include:
A new end to end solution for cash & equity derivatives - Misys has created a new
equities platform to provide extended coverage for trading and effectively managing equity
cash and equity derivatives. Front to back coverage includes pre-deal checks, real-time
positions, portfolio management, pricing, risk analysis, confirmation, settlements,
corporate actions, valuation and accounting. Moreover, by leveraging Misys’ premium
structured trading tool, Misys Summit MUST, banks using the solution can create and
process all variants of structured equity derivatives that are growing in popularity.
A new module for structured bonds – As many banks are issuing structured bonds to
raise funding in a flooded market, there is a need to fully support structured bonds
including structuring, issuing, investing, position-keeping, hedging, swapping, credit, and
auditing. The new structured bonds module leverages Misys Summit MUST’s technology
and has been developed in cooperation with KfW, the German banking group, to enable
the processing of structured bonds in the same manner as any standard bond. The new
module provides enhanced position management, call processing, capital gains, yield
calculations, accounting and theoretical valuation.
Market risk limits
To help with the volatility, high volumes and huge risks associated with today’s financial
markets, Version 5.3 includes a new market risk limits monitoring solution with limit breach notifications and dashboards covering P&L, portfolio or trade sensitivity to risk factors, trader daily volume and many more. Instant notifications through emails, SMS and
desktop alerts get information to the right people at the right time, providing an
environment of protection and regulatory compliance.
Misys Solutions for Treasury & Capital Markets has 18 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 please contact:
Stephen White
Misys Solutions for Treasury & Capital Markets
+44 (0)203 320 5593
stephen.white@misys.com
About Misys plc
Misys plc (FTSE: MSY.L), provides integrated, comprehensive solutions that deliver
significant results to organisations in the financial services and healthcare industries. We
maximise value for our customers by combining our deep knowledge of their business
with our commitment to their success.
In banking and treasury & capital markets, Misys is a market leader, with over 1,200
customers, including all of the world’s top 50 banks. In healthcare, Misys is a market
leader, serving more than 110,000 physicians in 18,000 practice locations and 600 home
care providers. Misys employs around 4,500 people who serve customers in more than
120 countries.
We aspire to be the world’s best application software and services company, delivering
results for the most important industries in the world.
Misys: experience, solutions, results
Contact us today, visit: www.misys.com