Misys Summit comprehensively supports real-time trading, operations and risk management for a wide range of structured securities. Through partnerships with Andrew Davidson & Co, Applied Financial Technology and Intex, the system integrates the market leading valuation models and libraries for structured securities.
Product coverage
- CMOs – residential agency pool-backed, residential whole loan-backed
- ABS – HEL, manufactured housing deals, credit card, auto loans
- Pass-through pools
- MBS, ABS, GMS, CMBS
Key benefits
- Full trade capture and analytics functionality
- Efficiently handles "Blackout period" trading – Misys Summit re-computes the correct settlement amounts and generates compensation payments to counterparts in real-time.
- TBA allocation processing – compliant with EPN, Summit
- Front-to-back STP through to accounting
- FAS 91 and FAS133 compliant
- Support for repos and reverse repos as well as outright trades
3rd party interfaces and valuation models
- Ability to capture terms and conditions directly in Misys Summit
- Intex integration – interface provides securities' terms and conditions, including projected cash flows of complex structures for proper deal capture
- Andrew Davidson & Co – provides prepayment models and security valuation based on its CMO/OAS model. Integration includes the new Hull & White interest rate process that can be calibrated to swaption volatilities on the fly
- Support for Applied Financial Technology (AFT)'s MBS OAS Valuation Model, which includes a two-factor interest rate process
- Integration of any third partys' data sources and models through plug and play functionality
- Support for major static prepayment conventions including PSA, CPR, CPY (Constant Prepayment Yield) and CPB (Constant Prepayment on the Balloon or Reset Date)
- Misys Summit implemented Extended BGM interest rate model for "out of the box" OAS calculations using either AFT or Andrew Davidson prepayment models.
