US-based BB&T Corporation is implementing technology from Misys subsidiary Summit Systems to support its derivatives trading operations at its North Carolina headquarters.
Summit says the technology will provide complete front-to-back support for a wide range of derivative instruments including swaps, caps & floors, swaptions, and exchanged traded futures and options. In addition, the system will enable the bank to capture and price funding products such as CDs, Fed Funds and FHLB Advances.
The integrated platform will provide front office staff with trade structuring, pricing and hedging tools, and a suite of portfolio analytics, while also automating trade and document workflow processes in the back office. The system will generate all accounting entries for posting to the bank’s general ledger.
Hal Johnson, EVP of funds management, BB&T, says: "Our goal was to find a system which could deliver comprehensive functionality to manage the derivatives for our balance sheet hedging, as well as our growing customer business in derivatives."