SEB Merchant Banking is extending its implementation of Summit Systems' treasury and capital markets software - which it currently uses for derivatives processing - to include support for a wider range of instruments.
The system will provide coverage across multiple instruments including FX, futures, FRAs and swaps and will be used by SEB to consolidate risk monitoring and identify and capture market arbitrage opportunities.
The package will include Summit's real-time analytics framework which provides immediate updates on the position and exposure of trades. Further analytics provided by the vendor include real-time P&L decomposition and gap analysis.
Furthermore, Summit says SEB will switch to the thin client, Web-based version of the system.
Charlotte Bergwall Nilsson, from SEB Merchant Banking's trading and capital markets, says the firm evaluated software from a number of competing vendors: "Summit has been one of our providers of front-office and risk-management solutions for derivatives since 1996. The excellent track record and relationship over recent years was a key factor in our selection process."