Misys signs three to Summit

Misys signs three to Summit

UK-based Misys Banking Systems says China's largest bank ICBC, Japan's largest financial institution Japan Post and The Asian Development Bank are all implementing its Summit platform to support their treasury and capital markets operations.

Misys says each of the organisations will use its Summit technology for the pricing of complex structured trades and trade processing.

Commenting on the deals Alan Railton, GM, sales and distribution, treasury and capital markets Asia, Misys, says the vendor's Asian business is expanding as financial institutions in the region focus on generating significant profits from more complex trading.

"Complex structured trades and derivatives are becoming increasingly popular in this rapidly moving market," says Railton. "These customers are typical of the more forward-thinking institutions that are adopting systems to manage the complexities of pricing, booking, risk management and regulation within a single solution."

Chinese bank ICBC also uses the vendor's MidasPlus system for global processing and Midas and Trade Innovation products to run its international branch operations.

Earlier this month Misys said its revenue in China had grown by over 40% during the 2005/06 financial year and the steady rise in demand for its products has resulted in the doubling in size of its local treasury and capital markets team.

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