Enables trading, risk management, trade processing and OTC lifecycle management in a tailored buy-side environment
Misys, the global application software and services company, has launched Summit Invest, the buy-side derivatives solution that leverages OTC and derivatives expertise of Misys Summit FT.
According to the Misys, Summit Invest enables trading, risk management, trade processing and OTC lifecycle management in a tailored buy-side environment. It includes new features to ensure organisations handle the complexity, risk and regulatory reporting of these complex products. It combines OTC functionality with new portfolio functionality, valuation techniques and reporting.
David Dixon, buy-side solutions manager at Misys, said: “Despite the financial crisis we continue to see interest from buy-side firms who understand they need robust systems for handling these higher risk products. Industry research has shown that the trade processing cost of an OTC is between five and 100 times greater than an exchange-traded equity, depending on complexity. Much of this cost is related to the extended lifecycle, which can be 20 years or more. Additionally, the need to automate valuations and processes, such as rate resets and collateral, is particularly strong. The launch of Summit Invest demonstrates our commitment to this growing group of Summit customers that already represents 10% of the Summit customer base.”