Misys Launches Buy Side OTC Derivatives Solution

Misys has launched its Summit Invest over-the-counter derivatives solution for hedge funds, asset managers and asset servicers.

Summit Invest offers trading, risk management, trade processing and OTC lifecycle management with new features for handling the complexity, risk and regulatory reporting aspects of OTC products.

Deployed as an ASP solution, Summit Invest consolidates positions across asset classes and includes pricing, risk analysis, collateral management and lifecycle management.

David Dixon, buy-side solutions manager at Misys, said in a statement, “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.”

He added, “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.”