Misys Integrates Markit Loans™

Integration of Markit Loans™ Pricing into Misys Loan IQ will aid credit decisions in tough market conditions

28 May 2008 – Misys today announced it has achieved Certified Alliance Partner status under Markit’s certification programme and will from today integrate Markit’s loan pricing service into Misys Loan IQ, a best of breed commercial lending solution.  The combined offering will enable mutual clients of the two companies to automatically price loans from the Misys Loan IQ platform which will ultimately boost their credit quality assessments and risk management on commercial loans.

Markit Loans™ is widely regarded as the most accessible and comprehensive loan pricing data in the market while Misys Loan IQ provides an integrated solution covering the entire life cycle of a loan - from origination and deal tracking to agency servicing and secondary trading. Misys Loan IQ currently handles one third of the world’s syndicated loans and half of the world’s secondary loan trades.  Further to the integration, mutual clients will be able to view underlying dealer quotes of contributed prices directly from the Misys Loan IQ platform.  

The integration of Markit’s loan pricing service into Misys Loan IQ comes at a time of increasing focus among banks on P&L management. Recent TowerGroup Research Note V54:01W, From Crunch to Squeeze: Global Impact of the Credit Crisis on Commercial and Small Business Lending, by Patricia Hines, Research Director for Wholesale Banking at TowerGroup, shows that the credit crunch is driving financial institutions to put renewed focus on credit quality, loan covenant enforcement, risk-based pricing, and strong loan documentation when making credit decisions. Loan underwriters are also spending more time on risk assessment, financial statement analysis and legal review.

Ken Katz, Misys Loan IQ Global Product Manager, comments: “Combining Markit’s best in class loan pricing data with Misys’ market leading loan investment, syndication and trading solution enables us to offer our customers powerful pricing capabilities.  Timeliness is critical to P&L reporting and risk analysis, and we believe this integration means we can offer loan market participants the most comprehensive solution on the market."

Nicola von Schroeter, Managing Director and Head of Alliances at Markit, adds: “We are delighted to jointly offer this technology solution which will allow our customers to easily access Markit’s loan data via the Misys Loan IQ platform. Making our data accessible via third party platforms requires thorough quality checks and our Certified Alliance Partner status, which Misys has now achieved, to guarantee a successful integration.”

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, 1,200 hospitals and 600 home care providers. Misys employs around 5,500 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. Contact us today, visit: www.misys.com

About Markit

Markit is the leading provider of independent data, portfolio valuations and OTC derivatives trade processing to the global financial markets. The company receives daily data contributions from 90 dealing firms, and its services are used by almost 1,000 institutions to enhance trading operations, reduce risk and manage compliance. For more information, see www.markit.com