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Product
Summit STP Operations
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Product and service specifications
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Overview
Summit’s STP operations module is an integrated transaction processing platform. From automated confirmation generation, settlement messaging and payment processing to real-time trade position viewers and accounting, Summit streamlines your operations, improves STP and lowers costs.
Definable business rules
Summit enables you to define the business rules that control the trade workflow. With most transactions requiring no intervention you now have the time and resources to focus on only the trades that produce exceptions.
Real-time, event driven workflow servers
Summit’s real-time event-driven workflow servers automate the complete back-office process. Transactions are delivered exactly where they needd to be, anywhere in your organisation, regardless of volume or instrument type.
Summit automatically generates a range of real-time confirmations and other related documents from the inception of a trade through to amendments, cancellations and payments. Confirmations cover all asset classes and can be sent by SWIFT, mail, fax or HTML in a range of formats. The settlement module generates real-time payments for confirmed transactions.
Summit’s Collateral Management module provides an efficient tool for managing the credit exposure of trades that have associated collateral support annexes. Summit’s rules-based workflow handles the complete process from counterparty demands, pledges, identification and valuation through to assigning and managing the collateral. The real-time Cash Management module delivers all the functions required to project forward funding by managing the bank’s daily cash positioning, short term funding requirements and long term liquidity.
Accounting
Summit’s powerful accounting module handles full back-valuation, automatic posting and account reclassification, while maintaining book and value dated balances. FAS 133 and IAS39 needs are fully supported.
External STP
Summit interfaces seamlessly with your upstream and downstream applications, allowing the internal STP concepts of Summit to reach through the whole organisation for example:
- Receives deals from Dealing 3000, Swapswire, EBS etc
- Sends confirmations via many systems including SWIFT, GSCC and DTCC
- XML interfaces to other systems are provided
- Interfaces seamlessly to external report writing tools
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