Misys Summit automatically generates a range of real-time confirmations and other trade related documents from inception of the trade through to amendments, cancellations and payments. Covering all asset-classes (fixed income, treasury, derivatives and commercial lending), confirmations can be sent either by SWIFT, mail, fax, HTML in a wide range of formats such as FRABBA, ISDA etc.

Real-time confirmations

• Automatic generation of messages in real-time: deal confirmations, rate set advices, payment advices, settlement messages, and so on.
• With Misys Summit you can set rules that define – what messages, in which formats, to send to which contacts, and by what method. This means that confirmations for differing products can go to separate individuals within one organisation.
• Confirmations are created through user definable templates, removing the need for programming.
• Amendments and cancellations are also handled automatically by Misys Summit.
• Supports SWIFT message confirmation types e.g. MT3xx and MT5xx range.
• Confirmation documents can be output to an external system for confirmation matching e.g. Citynetworks TRAM.
• Confirmation documents can be reprinted and resent as required

Other trade related documents

• Reset advices can be planned and timescales defined by the system
• Payment advices can be generated to inform the beneficiary of expected payments/receipts

Confirmation document creation

Documents can be created in a wide range of languages using:-

• Microsoft Word – confirmations can be created, edited and sent from MS Word
• Misys Summit templates – flags and populates mandatory fields for SWIFT message types

Confirmation tracking and auditing

Misys Summit allows users to track the status of a confirmation, automatically up-dating the its status when a matching confirmation is received. The audit trail provides a historical record of what was confirmed, when and by whom.

The Misys Summit settlement module automatically generates real-time payments for confirmed transactions. Payment orders can be sent via a wide range of applications including SWIFT, fax, paper, HTML etc.

Settlement functions include:

• Pay on "if matched" rule – payments are only generated for matched confirmations. Unmatched confirmations will be automatically flagged as exceptions by Misys Summit
• Payment thresholds can be set that trigger exceptions and require authorisation if a threshold is exceeded – the four-eyes principle
• A correspondent bank can be appointed to make payments on your behalf
• Payments can be segregated by product, by book etc.
• Extensive use of standard settlement instructions (SSI) including the ability to be completely flexible to the varying SSI required by your customers
• All currencies supported
• Supports a wide range of MT1xx, MT2xx and MT5xx messages
• Real-time monitoring of cash balances
• Support for failed settlements and partial deliveries of stock
• Misys Summit helps you to streamline your payments through netting. You can net across product types and implement a variety of both single and multiple netting types for your various accounts.