Kondor+ 3.3 What s New Enterprise trade and risk management for the new world of finance

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1 Enterprise trade and risk management for the new world of finance

2 SERVICE GATEWAY BUSINESS PROCESS CATALOGUE ASSET CLASS BUNDLES INDIVIDUAL ASSET CLASSES FINANCIAL REPORTS CASH FLOW REPORTS KONDOR UX NEW USER INTERFACE 3RD PARTY APPLICATIONS ASSET CLASSES STANDARD REPORTING OPEN REPORTS CVA TRADE DATA MARKET DATA STATIC DATA EXTENSIBILITY ADVANCED OPENNESS INSTRUMENT COVERAGE CVA MANAGEMENT ADVANCED REPORTING RISKATCHER P&L EXPLAIN TREASURY PRICING LIBRARIES GLOBAL PRICER/ SOLVER KONDOR + RISK MANAGEMENT ADVANCED ANALYTICS COLLATERAL KONDOR+ INSIGHT STRUCTURED PRODUCTS DESIGNER PRICING LIBRARIES EXCEL STRUCTURING CAPABILITIES BACK OFFICE COMPLIANCE MANAGEMENT COMPLIANCE SERVER MARKET LIMITS MARKET CONFORMITY E- INTERBANK SALES/ GLOBAL END OF DAY PROCESSING LOCAL CURRENCY SWITCH GLOBAL GLOBAL BOOK MONITORING TRADE PROCESSING CONFIRMATIONS/ SWIFT OPEN CASH FEES & COMMISSIONS DASHBOARD MANAGEMENT ACCOUNTING SETTLEMENTS 3RD PARTY PLUG-INS 2 Brochure

3 Kondor+ 3.3 Better than ever, built for the future Renowned for its best in class reliability and efficiency, the world s leading trade and risk management platform now offers a wealth of new features. Kondor+ continues to evolve rapidly as we add new functionality and enhance the architecture of our premiere product. Kondor+ 3.3, the latest version, now offers even more comprehensive asset class coverage, from rate derivatives to commodities. In the back office, new features include commodity instrument coverage such as over the counter (OTC) and listed options, commodity swaps and cash commodities. In addition, a generic confirmation matching module has been added as an alternative to the standard SWIFT interface. The new back office dashboard offers greater ergonomics, transparency and control across all back office operations including trade confirmation, trade settlement, accounting and regulatory reporting. We have also expanded our partnerships with global technology leaders, including Microsoft and HP. This means that with Kondor+ 3.3 our customers can benefit from the latest advances in computing technology delivering unrivalled price and performance advantages. Our platform support has been expanded to support MS SQL Server, Red Hat Linux OS, and grid-computing. Powerful insights, better decisions Kondor+ 3.3 now features a new and powerful unified user interface for all reporting, consolidating all internal and external data sources within a single screen, to help customers build new value propositions, such as P&L Predict, and make better informed decisions faster. New features of Kondor+ Insight include: Flexible aggregation and filtering in real time within a single and highly configurable user interface, including a powerful algebra editor Better efficiency source data from Kondor+ and any external systems, then monitor and fine tune reporting activities Valuation consistency Kondor+ 3.3 generates complete market data snapshots for all computation tasks, and maintains these snapshots cached for consistency of the subsequent simulations or late deals Greater performance and scalability all computation and market data management tasks are now delegated to dedicated servers, which can perform these much faster on behalf of all users, taking the full advantage of parallel processing. The server side provides powerful tools for flexible rule-based report scheduling and monitoring. These computations are logically separated from the on-line trading database to avoid interference with trading and position management activities. The computation results are stored in an in-memory hyper-cube, accessible by users via Kondor+ Insight front-end or third-party applications via an open API Brochure 3

4 Empowering the front office For the front office users, Kondor+ 3.3 now offers further and significant improvements in ergonomics and simplicity of use. There is the ability to provide a high degree of configurability and flexibility of end-user screens down to individual user profiles, without the need for local customizations and workarounds while maintaining the high efficiency of standard upgrade product path. This is all core to our User Experience strategy. Over the last 3 years we have introduced numerous features, such as Easy Workspace and Workflow, DealFlow, which allow our customers to easily tailor the Kondor+ user interface to their requirements and workflows. The combination of these tools form Kondor UX. Kondor+ 3.3 expands this toolkit by introducing: Conditional workflows addition of business rule logic to Easy Workflow, which allows users to, for instance, automatically populate trade tickets when capturing the commodity short name or fetch-yield curves when capturing currencies; Screen designer ability to tailor standard Kondor+ trade capture screens, including default and visible fields, trade capture sequence, and include user-defined custom fields CVA compliance The new regulatory requirements for Credit Value Adjustment (CVA) computations are coming into force as of January 1, Kondor+ 3.3 helps our customer to ensure full compliance with these new regulatory requirements, including managing CVA at the pre-deal level and at the reporting level, so that the P&L is impacted by the CVA charges. Pricing & analytical openness For banks wanting to consolidate their pricing and analytical capabilities, Kondor+ 3.3 gives the choice of using external pricing libraries, curves and market data sources as well as integration with in-house proprietary sources. New feature provides the ability to replace Kondor+ pricing analytics with proprietary or third-party libraries. Once this mapping is changed using simple to use, highly intuitive tools, this will take effect consistently at all steps of trade life-cycle including pricing, reporting and back office revaluation. Extended asset class coverage Kondor+ 3.3 builds on its leadership in Foreign Exchange (FX), Money Market (MM) and fixed income trading with comprehensive coverage for commodities and structured products. New features include: Commodities Listed options, OTC options and cash Real-time position keeping & revaluation, commodities stock management, P&L and P&L Explain, and risk management Deal validation and confirmation, payment and settlement, accounting, margin call process, and revaluations Structured products Improved usability to accelerate product design, including customizable greek formulas Faster front-to-back configurations, and new term sheet generation capabilities Support for inflation and commodity market data Comprehensive coverage of pricing libraries from Numerix, Pricing Partners and new Kondor+ pricing libraries (SABR, HW1F) Easy integration of any pricing models A powerful and flexible scripting language for deterministic pricing New rates model Re-engineered Hull & White 1 Factor model for fast and accurate pricing of Bermudan Swaptions and Callable Bonds. New features include: Hull & White volatilities calibrated at deal level at seconds/pricing Back tested on approximately 800 dates and 200 swaptions with no error on 140,000 pricings with more than 2bps of implied volatility Most commonly-used model for Bermudan Swaptions, with delta/vega hedge equivalent at both deal and report levels 4 Brochure

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6 Simplifying back office operations We continue to improve our back office functionality and architecture. New back office features include: Settlement choice Kondor+ 3.3 includes a generic confirmation matching module as an alternative to the standard SWIFT interface New functionalities fees and commissions module, position enhancements, audit trail, settlement & delivery matching, and free fields for customer-specific business objects and static data Extended asset classes support for commodities and mutual funds New tools and standard configurations to deliver faster implementations Better integration front-to-back validation blotter, easier back office revaluations, and better workflows for structured products Significantly improved front-to-back throughput and ability to handle peak volumes in a full STP environment (comprehensive benchmark results will available soon) Embracing the latest technologies Kondor+ 3.3 introduces a modern service-oriented architecture that further improves the flexibility and openness of the product. New features include: All essential Kondor+ 3.3 functions, including pre trade analytics, simulation, trade capture and processing, and reporting can now be invoked by other applications, such as client web portals or Microsoft Excel, by the means of Kondor+ Service API, which is available to customers as a collection of Java classes or and Enterprise Service Bus Extended platform and infrastructure support, including grid computing, Redhat Linux OS, Microsoft SQL Server 33 SP1 and Sybase 15.5, DACS compliance and XML Multi-curve management & CSA discounting Kondor+ 3.3 now includes a multiple-curve module to calibrate yield curves coherently and flexibly. New features include: Discounting curves can now be calibrated easily, taking into account CSA agreements as parameter for curve assignment Dedicated curves can be built in accordance with underlying tenor - deposits, futures, FX points, FRAs, swaps, single-currency basis swaps, and cross-currency basis swaps Differentiate funding curves for counterparties with and without collateral agreements (Libor vs. OIS discounting) Calculate risk exposure for all market data inputs Global treasury support, worldwide expertise Kondor+ 3.3 now provides even better support for cross-border global trading and follow the sun book management. New features include: Extra trading hierarchies Kondor+ 3.3 includes region and entity as two additional hierarchies above the branch level 24/7 availability optimized batch and revaluation processes for continuous FX and MM trading Cash flow reporting with as of versioning and historical market data 6 Brochure

7 KONDOR+: EXCELLENCE DELIVERED Outstanding performance, incredible speed. Kondor+ now supports the fastest, most efficient business technologies available today. It means your business can execute more trades, front to back, while maintaining complete control over the process, maximising revenues and minimising risk. Kondor+ delivers a significant step up in speed and performance with the help of our partners. Microsoft Fast, reliable, secure and affordable: Kondor+ on the SQL Server platform In a challenging and rapidly evolving environment, having the right tools is essential. Financial institutions need fast, reliable, secure and affordable technology solutions in order to survive and thrive, which is why an alliance has been formed with Microsoft to offer Kondor+ on the SQL Server platform. Microsoft and Misys share a common vision centered on delivering the most highperforming and dependable solutions for mission-critical applications, and the two companies have worked together to offer financial institutions of all sizes a simplified and flawlessly interoperable solution for trade and risk management. When banks around the globe deploy Kondor+ on the Microsoft SQL Server platform, they benefit from SQL Server s high levels of performance, availability and security; easy to-use management and application development tools; and self-service business intelligence (BI) tools that allow them to gain valuable insight into their processes and customers. Kondor+ on the SQL Server platform equips banks with a world-class, future proof solution for streamlining operations, reducing risk, improving speed and lowering TCO. HP Kondor+ running on HP ProLiant servers with Red Hat Linux is an advanced trade and risk management solution that allows you to manage all global trading activities on a single, flexible, standards-based platform. Powered by the latest Intel Xeon Processor technology, HP ProLiant DL980/DL580 servers are designed to break through the boundaries of scale-out computing with the ability to handle the largest and most challenging applications and workloads. With the goal of fast, easy deployments that can be customized and grown on demand, ProLiant DL980/DL580 servers maximize performance and efficiency. The HP ProLiant DL980 is the ideal choice for supporting Kondor+ in a large enterprise environment, and the DL580 is well suited for small to midsize deployments. Public Resources Microsoft Mission Critical Enterprise Microsoft SQL Competitor Compare How to Engage Emma Cloney, Global Alliance Manager, Worldwide Financial Services, Microsoft Corporation emmaclo@microsoft.com Contact your HP representatives today and arrange for an assessment of your IT environment. Brochure 7

8 MISYS recent MArKET recognition number one TrAdInG SYSTEM TECHnoLoGY ProVIdEr RISK TECHNOLOGY RANKINGS 2011 number one overall trading system number one pricing and analytics equity number one pricing and analytics inflation STrUCTUrEd ProdUCTS TECHnoLoGY rankings 2012 number one trading system credit number one trading system cross asset number one trading system foreign exchange number one trading system rates number one risk management collateral management number one risk MAnAGEMEnT TECHnoLoGY ProVIdEr ASIA RISK TECHNOLOGY RANKINGS 2011 number one overall risk management number one trading system equities number one trading system foreign exchange number one trading system interest rates number one derivatives pricing and risk analytics equities number one derivatives pricing and risk analytics interest rates number one derivatives pricing and risk analytics hybrids number one support services implementation efficiency BEST TrAdInG PLATForM BACK office ASIAN BANKER TECHNOLOGY AWARDS LEAdInG SInGLE TECHnoLoGY PLATForM PorTFoLIo, TrAdInG And risk MAnAGEMEnT HEDGE FUND JOURNAL AWARDS 2011 STrUCTUrEd ProdUCTS TECHnoLoGY rankings 2011 number one trading system equities number one trading system interest rates number one pricing and analytics equities BEST risk MAnAGEMEnT InITIATIVE ASIA ASSET MANAGEMENT AWARDS ABoUT MISYS Misys is at the forefront of the financial software industry, providing the broadest portfolio of banking, treasury, trading and risk solutions available on the market. With 1,800 customers in 120 countries our team of domain experts and partners have an unparalleled ability to address industry requirements at both a global and local level. Misys was formed by the merger of Misys with Turaz, which includes the award-winning Kondor+ product line. Combined they are able to address all customer requirements across both the banking and trading book businesses. Misys is the trusted partner that financial services organisations turn to for help solving their most complex problems. misys and the misys globe mark are trade marks of the misys group companies. copyright 2012 misys. all rights reserved. Find out more at