First client in North America goes live with Summit FT ASP solution- Firms increasingly look to hosted offerings to reduce operational costs
Misys plc (FTSE: MSY.L), the global application software and services company for financial services, announced today that Société Générale has gone live on the ASP version of Summit FT, Misys’ solution for cross-asset front-to-back trading including derivatives and structured products.
In today’s new market reality, financial institutions are increasingly looking for ways to reduce operational costs and improve time-to-market for their offerings, while at the same time outsourcing strategic IT projects in order to leverage the subject matter expertise available at third-party organizations. Deploying the Summit FT Software-as-a-Service (SaaS) solution helps clients manage their system maintenance expenses while still taking advantage of the many features already available on the platform.
“Our global clients are increasingly looking for a managed services solution as a way to address hardware maintenance costs and the growing pressure to reduce expenditures,” said Rick Salk, Regional Director at Misys. “Transferring the risk and overhead associated with maintaining system operations to a third party enables organizations to shift their focus to core activities, including growing their business. With Summit FT SaaS, clients have access to all of the sophisticated features available in the installed version of Summit FT, along with their desired level of customization.”
Misys’ Summit FT offers broad cross-asset coverage including OTC derivatives, fixed income, commodities, foreign exchange, equities and structured products, enabling global investment banking customers to manage the complexity of today’s financial markets including central counterparty clearing.