The judges of the Structured Products award highlighted the flexibility and speed to market of the Misys Summit MUST (Multi-Underlying Structured Trade) solution and focused on the new bonds-trading capability which had been jointly developed by Misys and leading German banking group, KfW. The bank has adopted the new innovation in its structured products business.
KfW is one of the largest borrowers worldwide and an award-winning issuer for structured products. Its funding includes bonds in a wide array of currencies and structures and the new MUST in bonds module will be integral to successfully serving its clients.
Speaking on the partnership with Misys, Holger Brinkhaus, Vice President Business Research, KfW, says: âThis is a strategic project for us and fills an important gap. We have to act quickly to our clientâs requirements and every deal has its own characteristics so it wouldnât make economic sense if each one required system development time. The MUST in bonds module enables users to bring structured bond-based structures into the full workflow and position management of MUST, creating enhanced position management for bonds, plus call processing, capital gains and yield processing, as well as the ability to mark against quote price.â
Structured Products is the only magazine dedicated to the wholesale market for derivatives-based investment products and widely recognised as an authoritative voice covering the fast-growing market for guaranteed equity products, structured notes, index products, alternative investments and funds.
Richard Jory, Editor of Structured Products, adds: âMisys was one of the first vendors to create an application specifically to support structured products, and since then the firm has kept up with the requirements of some of the most demanding users. MUST has some major clients like HSBC, ICBC in China and Fannie Mae in the US, and it has evolved to become a strategic tool for some of the organizations at the forefront of structured products in Europe.â
The judges also highlighted Misysâ re-architected credit derivatives module in their decision, as well as the full integration with NumeriX pricing libraries, and the added âscreen wrappersâ for structured products â user interfaces which present simplified trading screens containing only essential parameters and information while hiding the full complexity of the a product underneath.
Keith Stonell, Regional Managing Director EMEA, Misys Treasury & Capital Markets, comments: âSince we last won this award in 2005, Misys Summit MUST has become a robust and proven solution, with over 30 major financial institutions as customers. We have the market leading solution for the structured products and hybrids business space and this is resulting in significant growth in our client base.â