A new solution with powerful tools for trading and managing increasingly complex credit derivatives has been launched by Misys, the global software and solutions company. Misys Summit FT V5.2 will enable financial institutions to scale-up and meet evolving market demands in both complexity and volume as credit derivatives markets develop at a rapid pace.
Misys Summit FT V5.2 is the product of over 100 projects and more than 10,000 days of development and includes several innovations across the asset class range.
Credit derivatives – Misys Summit FT V5.2 builds on an innovative and award-winning credit derivatives framework to deliver superior coverage, flexibility, integration and workflow capabilities. Using its unique in-house developed MUST technology, it provides a future-proof and adaptive solution for structured credit trade types such as CDOs and default baskets which are now available as standard instruments, supported by a Markit Partners interface. There are new tools for default management – which efficiently manages events and actions subsequent to a default – and advanced market data management to enable improved control of a large number of curves and data. A powerful new position and portfolio management solution is also introduced for credit derivatives professionals handling large sets of credit entities.
Grid computing – As the size and frequency of large volume trades has increased the need for faster responses to complex risk calculations has become critical. To meet this challenge, Misys Treasury & Capital Markets has partnered with DataSynapse to provide grid-enabled applications out of the box. Focusing on the compute intensive parts of the solution – P&L Calculation and Real-time Market Risk – Misys Summit FT V5.2 dramatically reduces calculation times delivering more timely data for crucial risk analysis.
Structured trading – Misys Summit FT V 5.2 sees a number of functional, configurability and usability enhancements to its MUST structured products platform, that give banks unparalleled flexibility. Customized screens for MUST products can be built for both the front and back office to hide the complexity of various financial instruments and improve the management of structured trades.
Pricing and analytics – An enhanced collaboration with NumeriX has expanded the range of models to include out of the box integration with NumeriX Pro, which gives a large database of users’ access to vetted analytics as part of an enhanced pricing service. It enables traders, structurers and risk managers to quickly calculate a competitive and accurate price for deals across a wide variety of asset classes including FX, equity and interest-rate derivatives, using one of the latest models.
Buyside> – This release includes powerful features that extend Misys Summit FT capabilities for investment managers, hedge funds and asset servicers. The solution handles the allocation of trades to client funds, supporting the full lifecycle at all levels including actions such as partial terminations. Pre-trade records are processed in real-time allowing compliance checks and interactions with various trade execution systems. Portfolio segregation is also included to enable asset servicers and managers to handle multiple clients with a single system environment
>Compliance – Misys Summit FT V5.2 increases the transparency of trades by keeping track of intra-day historical data records for market data e.g. yield curve, FX rate, volatility, user and timestamp and to report and show history. The history can be disabled for real-time market data.
Dan Cohen, product manager for Misys Summit comments: “In today’s dynamic markets, banks need to handle more complex instruments faster. These enhancements across our asset class range will help our sellside and buyside clients in both their trading and operational environments. The increased transparency offered by this solution is highly demanded, particularly with banks in Europe dealing with MiFID compliance and due to the unique solution offered by our credit derivatives capability, we already have 11 clients at various stages of implementation of V5.2.”
Misys Treasury & Capital Markets creates integrated, comprehensive solutions for financial institutions to manage their capital market activities across multiple asset classes.