Misys plc, a provider of application software and services has signed a partnership agreement with Triple Point Technology, a company specializing in commodities management solutions, to add functionality within Misys Summit FT to include a wide coverage of commodities, completing Misys' full cross-asset strategy.

"We are delighted to be working with such a widely recognized solution provider. The combination of our advanced solutions, commodities expertise and Misys' broad coverage will guarantee the industry a best-of-breed solution with true cross-asset functionality," Dilip Daswani, vice president, Corporate Development team of Triple Point said.

Misys Summit FT currently has extensive cross-asset coverage, including OTC derivatives, fixed income, FX, equity and structured products, which enable customers to manage their trading operations and risk more effectively.

Through the partnership, Misys and Triple Point have jointly developed additional functionality in Misys Summit which is believed to leverage the underlying technology within Triple Point's products and provide advanced commodity capabilities as standard within Summit. The solution is expected to offer wide coverage of commodities including energy, agriculture and metals, managing all derivatives, forwards, options and underlyings.

"A vast majority of our Summit customers want to expand their use of our solution so that they can rationalise systems and costs and further reduce risk with a greater cross-asset view of positions," Dan Cohen, solution manager, Misys Summit said.

"Our partnership with the commodities experts from Triple Point significantly enhances our ability to provide full cross-asset coverage to our customers. Through this new Summit solution, middle and back-office users of Summit will get a full cross-asset view of positions and transactions including commodities. We can now enable our customers to benefit from best of breed functionality and the cost savings that are possible by moving all asset classes to Summit," Cohen added.

Founded in 1993 and headquartered in Westport, CT, U.S., Triple Point was named a 'Leader' in Gartner's (News - Alert) ETRM Magic Quadrant for its completeness of vision and ability to execute.