Misys has released a new version of software that helps banks and capital markets firms handle the growing volume of over-the-counter trades and meet Dodd-Frank regulatory requirements.

New features of Summit FT Version 5.6 support new swap definitions, the pricing of interest rate derivatives, increased collateralization of trades and connectivity to central clearers and reporting, Misys said Monday. The upgrade also improves automation and has been built with flexibility to handle new regulations as they are defined, Misys said.

"The problem organizations are facing is the challenge to implement a multitude of changes quickly to meet the vast array of regulatory requirements. The new version of Summit FT provides a comprehensive central clearing framework that simplifies this process," Samer Ballouk, solution director for Summit FT at Misys, said in a news release. "With SEFs to be appointed and legal entity identifiers to be decided by the end of 2012, European and Asia regulations following Dodd-Frank, the flexible framework of Summit FT's trade repository and interfaces to central clearers ensures that customers are ready to meet existing and future requirements as they evolve."

Misys, based in London, was ranked as No. 19 on Bank Technology News's 2012 FinTech 100 list. The list ranks the top technology providers to financial services companies.