Misys Summit FT includes the multi-award winning, market-leading solution for creating, managing and processing structured trades – Summit MUST. It supports both the business need to innovate and increase margins and the operational need to manage risk and keep transaction costs low. By removing the need for costly and time-consuming custom programming, Summit MUST provides you with a powerful tool to bring products quickly to market. 

Fully customisable to meet the needs of your business, the solution makes handling structured trades as easy as handling flow trades by using the same workflow, documentation and risk routines. The solution effortlessly handles structured deals - including those with underlyings that span multiple asset classes e.g. Snowballs, TARNs, callable range accrual swaps, equity linked notes and many more.

Reducing operational risk and handling faster innovation

When it comes to structured trades, time-to-market is fundamental. The window of opportunity to innovate in the front office can be small - and any delay in trading a new financial instrument can represent a significant missed opportunity. Spreadsheets have been used by many organisations to fill the gap. This enables the front office to trade quickly but creates back office issues and potential operational risk for the organisation. Lack of automation and manual handling of trades adds to the cost of the trade. To maximise margin and reduce risk it is therefore essential to implement a solution that not only handles the creation of the product but also handles the processing of the trade in a transparent way alongside other trades. Misys Summit FT helps you solve these challenges with all financial instruments, including the most sophisticated structured trades, processed in the same way from the trading desk through to operations, on a single database.

The solution helps you build and manage structured products composed of any combination of asset classes and many non-standard aspects such as:

• Multiple underlying components
• Complex payoff structures
• Embedded options
• Exotic termination or redemption clauses

Structured securities

A new structured securities solution with Summit FT supports the full creation, trading, issuance and processing of structured securities. The solution differentiates securities from OTC instruments and uniquely processes structured bonds in the same manner as any standard bond. This enables full integration with position, bond accounting, buy/sell, price/yield formulas and settlement functionality. It supports complex redemption rules, structured coupon formulas, complex coupon ownership conditions, different accrued settlement options, denomination set-ups and a lot more.