Summit Platform Upgrade

BUSINESS PROBLEM | A large Europe-based global investment bank using Misys SUMMIT for Interest Rate Derivatives, Bonds and FX needed to migrate to a newer version FT (Front Tier) of the trading platform.

HEADSTRONG SOLUTION |

• Migration from Summit v.3.7 – v. 5.2 enabled the client to consolidate its Back Office operations at one location and under one Summit version
• The scope of the initiative included:
  • Static Data Migration
  • Accounting
  • Documentation
  • Reporting
  • Classic to FT Conversion for all workflows
• Asset classes in scope included Interest Rate Derivative products such as Vanilla Swaps, Caps/Floors, Swaptions and Forward Rate Agreements.

BENEFIT TO CUSTOMER |

• Consolidation of Back Office operations reduced operational costs by 50%.
• Reduced time to market by leveraging Headstrong proprietary data migration utilities.