HDFC Bank chooses Misys for rates

India's HDFC Bank will adopt Misys Summit to process interest rate and currency derivatives, with the system scheduled to go live at the end of this year. The bank is also looking at whether to use the system for equity and credit derivatives.

Summit was chosen for its strong front-to-back, real-time features, says HDFC - from deal capture, pricing and analytics to risk management and straight-through processing. HDFC Bank is the first Indian financial institution to select Misys Summit since

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Stemming the tide of rising FX settlement risk

As the trading of emerging markets currencies gathers pace and broader uncertainty sweeps across financial markets, CLS is exploring alternative services designed to mitigate settlement risk for the FX market

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