ISDA Annual Conference, Singapore - 15th March 2006, Misys Banking Systems today announces the delivery of Misys Summit FT Version 5.0. This major release marks the culmination of considerable investment in re-architecting Misys Summit to .NET to provide superior ease of use and increased flexibility for users. Version 5.0 features many powerful enhancements to real-time modules that enable financial institutions to handle greater volumes of complex trades through to settlement.
Dan Cohen, product manager for Misys Summit, comments, "Capturing, processing and managing the risk of increasingly complex, but high margin products, is a continuing priority for our customers. We are well positioned to meet these needs both now and in the future with Misys Summit FT. The solution has supported our customers in this very important area of the market through our multi-award winning structured products module, Misys Summit MUST. In Version 5.0 we have added a number of powerful enhancements to deliver more complex, faster trade filtering, trade loading, cash flow generation and API pricing to Misys Summit MUST, the module for conceiving, processing and managing structured trades.
"We have been developing our new technology platform over the past three years and during this time, we have also taken the opportunity to respond to our customers' needs to support rapidly growing volumes and complexity by developing extensive real-time services such as trade blotter, positions, P&L, market risk, exceptions and cash management. These enhancements benefit all areas of the bank from trader through to risk manager, operations and the IT department. In Version 5.0 we have focused on building upon this market leading functionality."
Version 5.0 expands the real-time collateral management module that Misys released last year. The module was developed to help operations professionals in financial institutions cope with an increased demand for securitisation in the form of collateral. In this release Misys introduces intraday valuation enabling users to anticipate collateral requirements and thus better manage their exposure to credit and market risk.
Risk calculations on complex portfolios have become compute heavy. Misys Banking Systems has stayed at the fore of this issue working alongside partners such as DataSynapse and customers such as IXIS CIB, to grid enable Misys Summit and offer clients the performance they require. In Version 5.0, Misys provides a core hedge API that helps clients who are looking to grid enable their Misys Summit applications.
Specifically for operations professionals a new feature, Daily Task Manager, significantly improves efficiencies by automatically managing tasks like rate resets, money market rollovers and option expiries. Furthermore, with an enhanced rules based cashflow netting mechanism providing support for complex rules, entities, structures and agreements, Misys Summit FT Version 5.0 enables users to improve automation and STP.
Misys Summit FT provides standard interfaces to many upstream and downstream applications out-of the box. Version 5.0 additionally features interfaces to SwapsWire and Misys Treasury for trade matching.
Misys Summit FT Version 5.0 will be demonstrated at the Annual ISDA Conference to be held in Singapore, 14-16 March 2006.
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For further information contact:-
Suzanne McLaughlin
Global Marketing Communications Manager, Treasury & Capital Markets
Misys Banking Systems
+ 44 20 7549 4764
suzanne.mclaughlin@misys.com
Caroline Parker / Dan Davies
Financial Dynamics
+ 44 207 269 7295
caroline.parker@fd.com / dan.davies@fd.com
About Misys Banking Systems
Misys Banking Systems supplies over 1,200 customers in over 120 countries, among them 49 of the world's top 50 banks, with software and solutions for retail banking, wholesale banking, treasury and capital markets and risk management. It has 2,600 people around the world, over 70% of whom are outside of the United Kingdom, and sales, implementation and customer support teams in over 28 countries. Misys Banking Systems is part of Misys plc.
About Misys plc
Misys plc (FTSE: MSY), the global software company, is one of the world's largest and longest-established providers of industry-specific software. Founded in 1979, Misys serves the international banking and healthcare industries, combining technological expertise with in-depth understanding of customers' markets and operational needs. In banking Misys is a market leader with over 1,200 customers, including 49 of the world's top 50 banks. In healthcare Misys is also a market leader, serving more than 92,000 physicians in 18,000 practice locations, 1,250 hospitals and 600 home care providers. In UK general insurance Misys is the market leader in software solutions. Through Sesame, a wholly-owned subsidiary, the company is also a leading provider of support services to about 7,800 financial advisers in the UK. Misys employs over 6,500 people who serve customers in more than 120 countries. For more information, visit www.misys.com
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