Key to the award was the re-architected credit derivatives platform within Summit FT, introduced last year to deliver innovative multi-asset class systems to global banks with the ability to handle highly complex trades across their front to back office functions. According to The Banker, “Misys’ re-architecture of the Summit solution stood out in this category.”
Misys Summit was one of the first credit derivatives solutions to be launched to the market in 1998. Since then Misys Treasury & Capital Markets has delivered real value to leading financial institutions operating sophisticated sell-side credit trading environments, by automating the trading process of highly complex deals and providing management tools that reduce operational risk and improve efficiencies.
The new credit derivatives platform has already been adopted by many major institutions, such as Lloyds TSB, which last year decided to support 255 trading desks with Misys Summit FT for a new trading floor in Gresham Street, London.
Dan Cohen, Product Manager, Misys Summit FT, comments: “In today’s markets, banks need to be able to handle the latest complex products, automate transaction processing and interface with data providers and matching services such as DTCC and Markit Partners. The new Misys Summit FT credit derivatives module has been designed to respond to these conditions and to enable banks to manage credit events more effectively, improve margins and reduce operational risk.”
The Banker’s technology awards, now in its fifth year, gives recognition to technologies that show innovation, return on investment, integration with strategy and improvements in customer relations.
Edward Ho, EVP & General Manager, Misys Treasury & Capital Markets, comments: “The knowledge gained from over 17 years in this rapidly changing industry, coupled with our innovative solutions, enables us to keep our customers ahead of their competitors. Winning this award recognises the work and investment we have put into developing Misys Summit FT. We are continually improving Misys Summit FT to ensure the solution drives even greater value to our customers in the future and maintains its position as the derivatives sell-side solution of choice.”