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Phi Partners presented a prototype for our Summit Libor-replacement quantitative impact solution at the European Summit User Group on Friday 29th November.

Phi Partners were awarded the opportunity to provide this tool as a Finastra partner product based on initial designs requested from us by the vendor in September.

Our solution – ModiPhi – provides an in-memory data simulation mechanism that is completely configurable for LIBOR replacement rules across the various markets, and with which absolutely any Summit process can be run:   trades that are simulated according to user-defined post-LIBOR rules can be viewed on the usual Summit screens, and run with any process (core, in-house, external; GUI, batch or interface).   In other words, results with post-LIBOR simulation can be produced in exactly the usual way, with the same process, giving results in the same format, without any data migration or updates to the database.

ModiPhi was also presented by Finastra as a partner product, and as a necessary component of their wider LIBOR-replacement journey for Summit.

Are you ready to assess the impact of benchmark reform on your Summit portfolio?  Please contact us for more details of our simulation tool or to arrange a demo.

Phi Partners was pleased to once again participate in the European Summit User Group on 15th-16th November in London.

As usual, upgrades were a hot topic. We were delighted to present our most recent upgrade experience and to discuss Phi Partners’s proven methodology for Summit upgrade projects. Phi Partners participated in a plenum session as representatives of a major Swedish bank for whom we are delivering an upgrade to V6.1 together with a Linux conversion, as well as having the opportunity to discuss Europe’s first successful V6.1 upgrade delivered for a specialist German bank with major support from Phi experts.

Further topics were the new V6.1 deployment model, the Summit Roadmap, in-depth presentations on FusionRisk, FusionCapital Regulatory Reporting, and Security Finance Workstation on FusionInsight, as well as round tables on Summit Test Automation, MiFID Reporting, Pricing & Risk, and Summit Upgrades.