Misys subsidiary Summit Systems has released version 3.5 of its STP transaction platform, featuring tight integration with the dealer-backed SwapsWire network for complete automation of OTC derivative trade capture and confirmation.
Trades which are eligible for confirmation on the SwapsWire network are automatically fed to Summit version 3.5 via a pre-built FpML-based interface.
Xavier Bellouard, managing director of Summit’s London business centre comments: "15 of the 23 dealers that make up the SwapsWire consortium are Summit Systems customers, making SwapsWire a natural fit for Summit version 3.5. With dealers looking to cut costs and gain efficiencies, the tight integration of these two platforms will further our customer’s ability to realise cost savings through automation."
The latest release of the Summit software also features: an integrated AutoWord server designed to create trade documents in Microsoft Word that will dynamically exchange updates with Summit's database and messaging; and two new pricing models for credit derivates.