Misys Treasury & Capital Markets says that India’s HDFC Bank has selected Misys Summit FT, to process interest rate derivatives.
“We have grown significantly since starting operations a decade ago,” says Sudhir Joshi, the Treasurer of HDFC Bank. “We aim to maintain that growth and ensure we remain an innovator in the Indian and global markets. We chose Misys Summit for its strong front-to-back real-time features, from deal capture, pricing, analytics and hedging through to risk management and STP and we believe that it will have an immediate positive impact in our day-to-day operations. It will also ensure we achieve our goal not just in interest rate and currency derivatives, but in other areas of the treasury and capital markets business in the future.”
“We already have many of India’s major financial institutions as Misys customers in the retail and corporate banking market,” adds Prabhakar Saxena, General Manager of Sales and Distribution India at Misys Treasury & Capital Markets. “To complement this, we have also recently established a sales team specialising in the treasury and capital markets in India. This is enabling us to satisfy the increasing demand from Indian banks for product innovation in this buoyant market sector and to operate on a more global basis. We look forward to working with HDFC Bank and enabling it to keep ahead of the market in India. As our business grows and our sophisticated solutions are chosen by similar forward-thinking institutions, Misys is well positioned to become the leading banking solution provider in the Indian market.”