Financial Institutions Significantly Reduce Total Cost of Ownership With Latest Version of Misys Summit FT
LONDON, August 9, 2010 /PRNewswire-FirstCall/ --
- Version 5.5 of Misys Summit FT Expands Asset Coverage, Functional Depth and Technology Platforms for Lower TCO
Misys plc (FTSE: MSY.L), the global application software and services company, today announces the release of V5.5 of award-winning Misys Summit FT. Responding to market needs to reduce the total cost of ownership and improve efficiencies, the release is a result of major investment by Misys in a number of new modules, integrations, partnership agreements and technology features that grow the systems' cross-asset and front-to-back coverage.
Integration with Misys Risk solutions and Misys Loan IQ, its market leading lending solution, extends the coverage of Summit FT beyond any other offering in the market. Combining these enhancements with new lower cost platforms, such as Intel and Linux, extends choice, lowers cost and improves operational risk for Summit customers.
"All organisations are striving for cost savings," states Dan Cohen, Solution Director for Misys Summit. "But none want to compromise on the functionality they need. This is a huge dilemma in the selection process. Our strategy for Summit FT solves this problem providing best-of-breed coverage in all asset classes. This enables us to offer a proven platform for rationalisation within tier one organisations whilst continuing to offer a single system approach to smaller organisations."
Cohen continues, "The latest version of our solution and our strategic roadmap for Summit includes hundreds of projects of direct development combined with a partner approach for elements where there are already established and well regarded applications. For example, in the last few months we have signed agreements with Triple Point for commodities, IBM for BI tools, SmartStream for reconciliations, Bloomberg for market data and extended our partnership with Numerix for sophisticated pricing tools."
Highlights of Misys Summit V5.5 include:
- Deeper support for FX Options trading desks - Building on its
strong existing middle and back office focus, V5.5 includes additional
features for front office users for improved deal negotiation, pricing,
position management, hedging and risk management.
- A new reporting and analytics module for enhanced business
intelligence - the solution provides a fast and flexible data-warehouse
with report creation and execution framework through our partnership with
IBM. It gives users additional flexibility and power to create reports
and dashboards for front-office computed dimensional data related to risk
and P&L, or operational data such as trades, transactions, exceptions,
documents, settlements and accounting.
- Integration with Misys Risk solutions - enabling
consolidation of risk across trading systems and the ability to
incorporate enterprise wide risk factors and more exhaustive simulations.
These developments leverage Misys' risk department expertise and enabling
Summit FT to become the solution of choice for cross asset trading with
sophisticated integrated risk management.
- Integration to Loan IQ for lending - joins two market-leading
systems - Misys Loan IQ, for lending and Misys Summit FT for treasury and
capital markets - enabling consolidated position keeping across loans and
other asset classes and a fully integrated workflow that minimises
operational risk and provides a greater view of the organisations profit
and loss.
- Numerix partnership expands pricing capabilities - Misys
recently announced a deeper relationship signing a Platinum partnership
agreement with Numerix that gives Misys customers extensive access to
market leading models and the ability to deal only with Misys. With V5.5
Misys has broadened the coverage of the Numerix models including, amongst
many others, the popular Libor Market Model (LMM).
- Integrated Bloomberg market data - Misys has also signed an
agreement with Bloomberg and are now offering a ready-to-use interface
for both Bloomberg's Data License service and also the real-time B-Pipe
service, so bond and equity reference data and streamed market prices are
now available in Summit applications.
- Support for derivatives market changes - Misys continues to
monitor the changes that are ongoing as the market moves towards central
clearing of derivatives. Latest changes to MarkitWire, DTCC and FpML are
included in this release and mandatory changes will be included when the
exact details are published.
- Platforms that help reduce TCO and improve performance - With
a customer focus on cost reduction, Misys has enabled the Summit solution
to run on Microsoft SQL Server 2008 and also introduced the first 64 bit
platform on Solaris. Later in 2010, in an interim release, 64 bit
Microsoft, 64 bit Sparc and Linux will be available as platform choices.
About Misys plc
Misys plc (LSE: MSY), provides integrated, comprehensive solutions that deliver significant results to organisations in the financial services and healthcare industries. We maximise value for our customers by combining our deep knowledge of their business with our commitment to their success.
In banking and treasury & capital markets, Misys is a market leader, with over 1,200 customers, including all of the world's top 50 banks. In healthcare, Misys plc owns a controlling stake in NASDAQ-listed Allscripts-Misys Healthcare Solutions, Inc, a clear leader in the provision of healthcare technology, serving more than 150,000 physicians, 700 hospitals and nearly 7,000 post-acute and homecare organisations. Misys employs around 6,000 people who serve customers in more than 120 countries.
We aspire to be the world's best application software and services company, delivering results for the most important industries in the world.
Misys: experience, solutions, results
Contact us today, visit: http://www.misys.com
For further information please contact
Edward Taylor
Global Head of Public Relations
Misys
Solutions for Banking and Treasury & Capital Markets
+44(0)20-3320-5530
[email protected]
Sebastian Mathews
Financial Dynamics
+44(0)207-269-7158
[email protected]
SOURCE Misys plc
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