Dan Cohen, product manager for Misys Summit, comments, âCapturing, processing and managing the risk of increasingly complex, but high margin products, is a continuing priority for our customers. We are well positioned to meet these needs both now and in the future with Misys Summit FT. The solution has supported our customers in this very important area of the market through our multi-award winning structured products module, Misys Summit MUST. In Version 5.0 we have added a number of powerful enhancements to deliver more complex, faster trade filtering, trade loading, cash flow generation and API pricing to Misys Summit MUST, the module for conceiving, processing and managing structured trades.
âWe have been developing our new technology platform over the past three years and during this time, we have also taken the opportunity to respond to our customersâ needs to support rapidly growing volumes and complexity by developing extensive real-time services such as trade blotter, positions, P&L, market risk, exceptions and cash management. These enhancements benefit all areas of the bank from trader through to risk manager, operations and the IT department. In Version 5.0 we have focused on building upon this market leading functionality.â
Version 5.0 expands the real-time collateral management module that Misys released last year. The module was developed to help operations professionals in financial institutions cope with an increased demand for securitisation in the form of collateral. In this release Misys introduces intraday valuation enabling users to anticipate collateral requirements and thus better manage their exposure to credit and market risk.
Risk calculations on complex portfolios have become compute heavy. Misys Banking Systems has stayed at the fore of this issue working alongside partners such as DataSynapse and customers such as IXIS CIB, to grid enable Misys Summit and offer clients the performance they require. In Version 5.0, Misys provides a core hedge API that helps clients who are looking to grid enable their Misys Summit applications.
Specifically for operations professionals a new feature, Daily Task Manager, significantly improves efficiencies by automatically managing tasks like rate resets, money market rollovers and option expiries. Furthermore, with an enhanced rules based cashflow netting mechanism providing support for complex rules, entities, structures and agreements, Misys Summit FT Version 5.0 enables users to improve automation and STP.
Misys Summit FT provides standard interfaces to many upstream and downstream applications out-of the box. Version 5.0 additionally features interfaces to SwapsWire and Misys Treasury for trade matching.
Misys Summit FT Version 5.0 will be demonstrated at the Annual ISDA Conference to be held in Singapore, 14-16 March 2006.