Misys (FTSE: MSY.L), the global application software and services company, today announces the release of V5.5 of award-winning Misys Summit FT.
Responding to market needs to reduce the total cost of ownership and improve efficiencies, the release is a result of major investment by Misys in a number of new modules, integrations, partnership agreements and technology features that grow the systems' cross-asset and front-to-back coverage.
Integration with Misys Risk solutions and Misys Loan IQ, its market leading lending solution, extends the coverage of Summit FT beyond any other offering in the market. Combining these enhancements with new lower cost platforms, such as Intel and Linux, extends choice, lowers cost and improves operational risk for Summit customers.
"All organisations are striving for cost savings," states Dan Cohen, Solution Director for Misys Summit. "But none want to compromise on the functionality they need. This is a huge dilemma in the selection process. Our strategy for Summit FT solves this problem providing best-of-breed coverage in all asset classes. This enables us to offer a proven platform for rationalisation within tier one organisations whilst continuing to offer a single system approach to smaller organisations."
Cohen continues, "The latest version of our solution and our strategic roadmap for Summit includes hundreds of projects of direct development combined with a partner approach for elements where there are already established and well regarded applications. For example, in the last few months we have signed agreements with Triple Point for commodities, IBM for BI tools, SmartStream for reconciliations, Bloomberg for market data and extended our partnership with Numerix for sophisticated pricing tools."
Highlights of Misys Summit V5.5 include:
• Deeper support for FX Options trading desks - Building on its strong existing middle and back office focus, V5.5 includes additional features for front office users for improved deal negotiation, pricing, position management, hedging and risk management.
• A new reportineporting and analytics module for enhanced business intelligence - the solution provides a fast and flexible data-warehouse with report creation and execution framework through our partnership with IBM. It gives users additional flexibility and power to create reports and dashboards for front-office computed dimensional data related to risk and P&L, or operational data such as trades, transactions, exceptions, documents, settlements and accounting.
• Integration with Misys Risk solutions - enabling consolidation of risk across trading systems and the ability to incorporate enterprise wide risk factors and more exhaustive simulations. These developments leverage Misys' risk department expertise and enabling Summit FT to become the solution of choice for cross asset trading with sophisticated integrated risk management.
• Integration to Loan IQ for lending - joins two market-leading systems - Misys Loan IQ, for lending and Misys Summit FT for treasury and capital markets - enabling consolidated position keeping across loans and other asset classes and a fully integrated workflow that minimises operational risk and provides a greater view of the organisations profit and loss.
• Numerix partnership expands pricing capabilities - Misys recently announced a deeper relationship signing a Platinum partnership agreement with Numerix that gives Misys customers extensive access to market leading models and the ability to deal only with Misys. With V5.5 Misys has broadened the coverage of the Numerix models including, amongst many others, the popular Libor Market Model (LMM).
• Integrated Bloomberg market data - Misys has also signed an agreement with Bloomberg and are now offering a ready-to-use interface for both Bloomberg's Data License service and also the real-time B-Pipe service, so bond and equity reference data and streamed market prices are now available in Summit applications.
• Support for derivatives market changes - Misys continues to monitor the changes that are ongoing as the market moves towards central clearing of derivatives. Latest changes to MarkitWire, DTCC and FpML are included in this release and mandatory changes will be included when the exact details are published.
• Platforms that help reduce TCO and improve performance - With a customer focus on cost reduction, Misys has enabled the Summit solution to run on Microsoft SQL Server 2008 and also introduced the first 64 bit platform on Solaris. Later in 2010, in an interim release, 64 bit Microsoft, 64 bit Sparc and Linux will be available as platform choices.