> > > > Misys Summit MUST

Misys Summit MUST

Exotics and structured trades made easy

Misys Summit MUST is the market-leading tool from Misys Summit. It makes structuring and processing exotic trades as easy as handling the most vanilla of deals, with the same workflow, documentation and risk routines. This dramatically reduces time-to-market for new products.

Misys Summit MUST easily manages complex structured deals with multiple cross-asset underlyings. This includes power reverse dual currency (PRDC) swaps, multi-callable dual currency range accrual swaps and multi-currency equity best-of performance linked notes. It also handles more conventional exotics such as TARNs and ratchet caps. All of this without the need for custom programming.

Features include:-

Easy, wizard-based trade capture, with pricing and valuation using Misys Summit MUST's extended BGM model
Support for all asset classes (interest rate, FX, equity, etc.)
Seamless integration with Misys Summit's STP platform for hedging, documentation, confirmations and settlements
Automatic maintenance of rate resets, barrier monitoring, etc.

Misys Summit's extended Brace-Gatarek-Musiela model

The cross-asset implementation of this powerful model combines the original BGM/HJM framework with an optimised cross-asset Monte Carlo simulation. It extends the power of Misys Summit MUST with a number of unique benefits and enhancements:

Model factors include: equity prices, FX rates, and foreign yield curves
Flexible calibration
Easily to calculate, view and control main factors by PCA
Support of trade attributes like Bermudan and American exercise, ratchets, and many more
Support for complex trade formulas
Reduced NPV variance and better estimates for drift adjustment of foreign yield curves
Optimised performance and precision