|Pricing Partners And Misys Summit Sign Partnership Contract - Nov 07|
November 15th 2007 - A new agreement between Misys, the global application software and services company, and Pricing Partners, the independent valuation solutions firm, has been finalised today, creating a unique solution which enables financial institutions to gain more accurate, independent pricing for standard and hybrid exotic derivatives with an extensive asset classes coverage.
Pricing Partners’ multi-asset pricing engine, Price-it®, will be integrated with Misys’ flagship solution for cross-asset derivatives trading and structured products – Misys Summit FT. The new integrated solution will take unique deal representations from both solutions and create a single payoff description for trades. By providing access to all Price-it® capabilities directly from the Summit solution, firms will be able to manage complex derivatives positions more efficiently by automatically valuing the latest innovative products including inflation, interest rate, equity, credit, commodities and FX derivatives, as well as hybrid products.
Dan Cohen, Misys Summit Product Manager comments: “Across the sell side and buy side, firms face mounting pressure from investors, regulatory authorities and accounting standards bodies to obtain valuation of financial products independently of those offered by the trading floors of large investment banks. This agreement strengthens our customers’ ability to gain accurate and independent pricing and valuation for a greater variety of financial instruments, and fits with our strategy to create more value to our customers through winning partnerships.”
Misys has an exclusive right to promote and resell the integrated solution as well as the Excel version (stand alone) of Price-it® in US and Asia. As part of an exclusive agreement, Pricing Partners has committed to not work with any competitor of Misys which would allow a competitor to resell, licence or offer Pricing Partners Products either as a standalone or integrated solution.
Eric Benhamou, CEO Pricing Partners says: “Misys is a leading technology firm in terms of innovation and experience in today’s market, and we believe that joining our derivatives pricing functionality with Misys Summit’s optimized portfolio analytics and front-to-back STP creates a powerful solution that increases clients’ ability to obtain independent valuation and time to market with regard to financial product innovations. This agreement will also allow us to leverage their significant global footprint as we target more treasury and capital market participants, particularly in Asia and the Americas as well as the UK market.”
The fully integrated solution will be available to the market in Q2 2008.
Misys Treasury & Capital Markets is a business unit of Misys PLC. It creates integrated, comprehensive solutions for financial institutions and corporate treasury departments across the globe, enabling them to manage their capital market activities across multiple asset classes.
For press inquiries, please contact:
Misys Treasury & Capital Markets
+44 (0) 207 757 6134
About Misys plc
Misys plc (FTSE: MSY.L), 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 is a market leader, serving more than 110,000 physicians in 18,000 practice locations and 600 home care providers. Misys employs around 4,500 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
About Pricing Partners SA
Founded by professionals of the trading floor industry, Pricing Partners provides software solutions and consulting services for derivatives independent valuation. Pricing Partners proposes Price-it®, an independent analytic library solution to price complex financial products on different markets (IR, Equity, Credit, Inflation, Hybrids, Commodities and FX).
The Pricing Partners solution enables users to comply with accounting standards evolution as well as regulation evolutions in a capital market industry related to independent valuation issues of OTC products. Price-it® principally targets asset-managers, financial departments of large banks, dealing rooms and audit firms. The company is based in Paris.
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