London - SEB Merchant Banking, a division of SEB Group, one of the largest Nordic banks, has selected Summit Systems' treasury and capital markets solution to help consolidate risk monitoring for several desks into one single platform. The deal means that Summit's solution expands from focusing on derivatives at the Bank, to provide coverage across different asset classes, processing a wide range of trades from FX to futures, FRAs and swaps.

Charlotte Bergwall Nilsson, from SEB Merchant Banking's Trading and Capital Markets, says: "Summit has been one of our providers of front-office and risk-management solutions for derivatives since 1996. The excellent track record and relationship over recent years was a key factor in our selection process. We evaluated a number of software solutions, including Summit, and found that our requirements were easily met by Summit's cross-asset capabilities." 

The solution will include Summit's real-time analytics framework providing immediate information updates on the position and exposure of any trade. With Summit's real-time market risk analysis, SEB will be able to identify and capture market and arbitrage opportunities quickly for the most efficient and cheapest hedging strategies. Further analytics provided by Summit include real-time P&L decomposition and gap analysis.

Christophe Ensarguet, Summit's sales manager for SEB, adds: "This is a significant deal for Summit. Not only is SEB expanding its use of Summit, it has also committed itself to moving to our real-time framework and thin-client, web-based architecture. The bank's renewed confidence in both our software infrastructure and business solutions is a new step in our long and mutually prosperous relationship."

Suzanne McLaughlin
Global Marketing Manager
Summit Systems International Ltd
18 King William Street
London EC4N 7BP
United Kingdom
Tel: +44 (0) 20 7337 8558
Email: suzanne_mclaughlin@summithq.co.uk

Christophe Ensarguet
Sales Manager for SEB
Summit SA
62 Rue Beaubourg
75003 Paris
France
Tel : +33 1 4478 2828
Email : christophe_ensarguet@summithq.fr

The SEB Group is a North European financial banking group for companies, institutions and private individuals, with 672 branch offices around Sweden, Germany and the Baltic States. SEB has more than 4 million customers, of whom 1.5 million are e-banking customers. The Group is represented in some 20 countries around the world and has a staff of about 19,000.

Summit Systems is a recognised worldwide leader in providing front-to-back transaction processing support for fixed income, treasury, derivatives and commercial lending businesses. It provides integrated trading, operations and enterprise risk management software to banks, financial institutions, and capital markets participants worldwide. Summit, with headquarters in New York and full-service offices in Paris, London, Frankfurt, Tokyo, Hong Kong, Singapore, Korea and Sydney, is a wholly owned subsidiary of Misys plc, a world leader in banking software solutions.

Misys plc, one of the world's largest software solutions companies, serves customers in the international banking and securities, US healthcare, and UK retail financial services sectors. Employing over 6,500 staff, the group partners with its customers to deliver outstanding products to essential industries.  Misys reported revenues in excess of £1 billion ($1.5 billion) for the year ended 31 May 2003.