The deal is expected to be completed by the end of February 2011.
“Sophis’s solutions will complement Misys' existing treasury and capital markets solutions,” Denny Dewnarain, Misys Summit’s deputy MD for continental Europe, told FOW. “Misys products are more sell side-focused and Sophis on the buy side, so going forward the acquisition will be beneficial.
“Misys Summit is known very well for interest rate derivatives, fixed income market, credit derivatives. Sophis is well known in the equity market, equity derivatives and convertibles and commodities,” he added.