Federal Home Loan Bank (FHLB) of Chicago has consolidated its capital markets systems by implementing Misys Summit FT platform.
FHLB Chicago has been using Misys Summit since 2004. The latest implementation is expected to provide a more streamlined operation, front to back, and greater asset-class coverage.
Misys Summit FT platform will enable FHLB Chicago to process a wide range of trades it executes, covering advances, structured products, money markets, bonds, OTC derivatives and exchange-traded instruments.
FHLB Chicago EVP for operations and technology John Stocchetti said that Summit FT significantly improves the efficiency of the way they operate and account for their entire business.
“We have been able to consolidate many of our existing systems on to a single platform and streamline operations, allowing us to be more responsive to our customers and positioning us to more effectively handle future challenges,” Stocchetti said.