Misys has launched Summit Invest, a buy-side derivatives solution that is being deployed this month by a major UK-based Asset Manager.
Misys Summit Invest focuses on trading, risk management, trade processing and OTC lifecycle management for the buy-side.
Despite the financial crisis we continue to see interest from buy-side firms who understand they need robust systems for handling these higher risk products, comments David Dixon, Buy-side Solutions Manager at Misys. Industry research has shown that the trade processing cost of an OTC is between five and 100 times greater than an exchange-traded equity, depending on complexity. Much of this cost is related to the extended lifecycle, which can be 20 years or more. Additionally, the need to automate valuations and processes, such as rate resets and collateral, is particularly strong. The launch of Summit Invest demonstrates our commitment to this growing group of Summit customers that already represents 10% of the Summit customer base.
Current customers of the Summit FT solution include M&G Investments, Soc Gen Securities Services and Northern Trust.