Market leading fixed income trading

The Misys Summit FT solution provides a market leading solution for trading and processing fixed income instruments.  The solution handles the simple to the very complex with coverage ranging from every day bonds and repos, through to MBS/ABS, Gics and structured bonds. It handles the specifics of each asset class, correctly capturing trades and all the options and collateral related to issuance. The module handles all aspects of creating and managing debt issuance and secondary trading.

The solution includes real-time interfaces to Bloomberg's Trading System and real-time blotters to view all your trades, whatever their asset class, in one consolidated view.  Summit FT provides sophisticated analytics including what-if analysis and full pricing grid management.

Full integration with derivatives trading functionality including seamless asset swap generation and integration with Swapswire. Automatic generation of documentation and syndicate management automation plus fully automated STP processing through to accounting.  The solution includes specific bond accounting functionality to ensure regulatory compliance. Users can price bonds more quickly and accurately, and maintain an aggregated view of risk exposure.

The solution’s MBS/ABS coverage is extensive with specific features such as TBA allocation processing, FAS compliance and partnerships with Andrew Davidson & Co, Applied Financial Technology and Intex, for market leading valuation models and libraries.

Product coverage

Bonds
Structured bonds: callable/puttable, dual and reverse dual currency, multi-currency, exotics, credit and equity-linked bonds Government bonds, corporate bonds, emerging markets and Eurobonds, inflation-linked securities

Repos
Open, multiple collateral, fixed or floating-rate, multi-currency, collateral only, and cash only
Security lending and borrowing, buy/sell backs, sell/buy backs, triparty, central bank repos

Structured Securities with Multiple Underlyings and Options
A new structured securities solution within Summit MUST supports the full creation, issuance, trading and processing of structured securities. It supports complex redemption rules, structured coupon formulas, complex coupon ownership conditions, different accrued settlement options, denomination set-ups and a lot more. 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

MBS/ABS
CMOs – residential agency pool-backed, residential whole loan-backed
ABS – HEL, manufactured housing deals, credit card, auto loans
Pass-through pools
MBS, ABS, GMS, CMBS

GICS Fund coverage
Misys Summit FT includes full support for a wide variety of user-defined structured GIC fund transactions such as construction funds, housing funds, float funds, leasing funds, debt service reserve funds and many more.