Misys today announced the completion of its acquisition of Sophis making it the most formidable software and services provider in capital markets, offering most comprehensive cross-asset and front to back-office coverage. With this acquisition Misys now have more than 1,800 dedicated domain specialists with an unrivalled knowledge and expertise covering all asset classes across all functional areas, including trading, investment decision support, portfolio management, risk management, compliance, pricing and collateral management.
Mike Lawrie, CEO of Misys, is delighted with the additional strengths the acquisition brings to the company: “This really catapults us into the No.1 position in the market. Misys and Sophis clients will both benefit from this acquisition: Misys customers will be able to take advantage of the more advanced functionality around equities, equity derivatives, portfolio management and portfolio analytics from Sophis.
“Systems that enable traders, investment managers and risk managers to price and manage any instrument, regardless of complexity or asset class, encourage innovation in the capital markets, as well as increase transparency,” states Stephen Bruel, Research Director, TowerGroup a Corporate Executive Board company. “The ability to manage cross-asset portfolio strategies, combined with comprehensive risk management from the front to the back office on one integrated platform will keep institutions ahead of their competitors.
Having a single vendor offering this broad coverage potentially reduces risk for financial institutions.” Sophis solutions now have greater exposure to non-European markets, in particular the fast-growing Asian and Latin American markets, through Misys’ international footprint and its existing sales and services infrastructure in these regions.
Misys now has over 500 customers benefiting from its broad range of capital markets solutions and generates more than 60% of its revenue from the combined capital markets businesses. Misys is a new force in buy-side systems with 13 of the top 20 asset managers and has added 22 new customers in 2010.