Summit trading system
Misys provides financial services software covering retail and corporate banking, lending, treasury, capital markets, investment management and enterprise risk. The company was founded in by the brothers Roger and Glyn Morgan of Morgan Insurance Worcester. Many of the companies acquired and consolidated by Misys were themselves products of previous mergers. In Misys shares were first traded on the Unlisted Securities Market. It was admitted to the Main List of the London Stock Exchange in , leveraged on the initial successes of the purchases, cross selling to an expanded client base and economies of scale arising from consolidation.
In Misys entered the banking software space by purchasing Kapiti Ltd. In Misys purchased ACT which included BIS and Kindle , thus rapidly giving Misys control of 3 of the 4 biggest selling core banking packages at the time.
At time of purchase Midas had the biggest installed base of any "off-the shelf" banking software package. The biggest banking software company to be brought into the Misys fold was BIS. Business Intelligence Services or BIS Ltd in had acquired Kingsley-Smith and Associates and a software package named MIDAS developed by KSA.
This banking software system was based on a concept of a core multi-currency accounting module.
Investment Banking Software- Misys Summit FT | HCL Technologies
At the time most other International Banks worldwide worked and accounted on a 'single currency' methodology. It was marketed to and operated successfully by a number of client London Banks from From the mid to lates competition to MIDAS came from vendors with systems called Kapiti , BankMaster from Kindle and IBIS.
In ACT purchased Kindle followed by BIS in uniting two of the biggest selling products under one ownership albeit with different user bases. Midas was focused on its traditional strength of international branch banking in the world's financial centers. The simplicity of Bankmaster and its Branchpower front end sold very well to tier 3 and 4 banks in Africa and South America.
Kapiti Ltd was a privately held packaged banking software house focused on using IBM's mid range computers to server the international branch banking market.
Kapiti was founded in by a Mr. John Kennedy, a New Zealand native and competed directly with the commercially more successful Midas system. Initially headquartered in London, the company moved to Windsor then Slough, Berkshire. In Kapiti re-branded the well established Kapiti International Banking System KIBS as EQUATION 1, sales were still focused on international branch banking with clusters of users in financial centers like London plus some small retail operations in the Gulf. Kapiti also pursued wholesale banking by merging with Aregon International dealing room information feeds , purchasing Future Systems trade capture and purchasing rights to some reporting tools.
None of the acquired companies prospered under Kapiti. However the technical expertise of the Aregon team was exploited to build in house a trade finance system called Trade Innovation TI which was commercially successful for 20 years or so.
In Misys bought Summit Systems, an American software company selling a front-office cross-asset management system targeting investment banks' trading rooms. In it bought Medic Computer Systems, a healthcare software business. In , it went on to buy DBS Management plc , a supplier of software to Independent Financial Advisors.
Following the resignation of company founder Kevin Lomax, Misys appointed Mike Lawrie as group chief executive in October In the company announced a merger between its healthcare business and Allscripts , a medical records business.
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The merger was completed on 10 October , and Misys plc now held a majority shareholding in the merged entity known as Allscripts-Misys Healthcare Solutions, Inc , which is listed on the NASDAQ MDRX.
On 12 November , Misys announced that it had reached an agreement to acquire Sophis , a provider of portfolio and risk management software.
Misys entered into merger talks with its Swiss rival Temenos in February On 10 February , Misys completed its acquisition of Hungary-based IND Group, an innovator in digital channels solutions. On 8 August , Misys closed the transaction to acquire Custom Credit Systems CCS , a leading US-based provider of credit workflow and loan origination software. The combination of CCS and Misys results in the most comprehensive commercial lending solution across all lending asset classes, globally.
Head office located in London, England with offices in 50 countries throughout the world. Software is mainly developed and supported offshore. From Wikipedia, the free encyclopedia. Retrieved 15 April Retrieved from " https: Companies formerly listed on the London Stock Exchange Software companies of the United Kingdom Companies based in London Software companies established in Financial software companies Banking software companies Financial technology companies establishments in England.
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