Fannie Mae To Use Misys Summit FT

New York – 11 April 2006 – Misys Banking Systems is pleased to announce that Fannie Mae will use its Misys Summit FT solution to rationalise its systems for managing derivatives, debt, investments and issuance.

Misys Summit FT is a single, multi-asset class treasury and capital markets solution with built-in rules-based workflow engines that automatically move transactions in real-time from trading through to operations and risk management. For Fannie Mae, the system will act as a middle layer between many other applications thereby providing it with the infrastructure to enable straight-through-processing (STP) throughout the business. The system will exchange data dynamically in real-time from various up-stream and down-stream applications that include market data and other accounting systems.

Supported by superior real-time technology, depth of cross-asset and accounting functionality, Misys Summit FT will enable Fannie Mae to improve trade processing, streamline its operations and reduce costs. The system is being implemented to cover a wide range of asset classes including fixed income and interest rate derivative instruments including highly complex structured products.

”We are delighted to extend our relationship with Fannie Mae,” comments Ahmet Bilgen, Director of Sales Americas, Treasury & Capital Markets, Misys Banking Systems. “This is a trend we are starting to see, particularly within the larger institutions. By choosing Misys and continuing with an existing, trusted supplier, the organisation is less exposed to risk when compared to the alternatives. Our exemplary track record of 100% success in implementations, the expertise of the staff within our support, consulting and development groups and the strong trusting relationship we build with our customers are decisive factors in such situations. The implementation has already started and we are working towards a go-live with the first phase of the project."

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development