CECA Extends Use of SunGard's FastVal Analytics
09 November 2010 Madrid
Image: Shutterstock
Confederaci贸n Espa帽ola de Cajas de Ahorros (CECA), the National Association of Spanish Savings Banks, is expanding its use of SunGard鈥檚 FastVal Analytics, a comprehensive suite of derivatives pricing models used by international financial institutions for derivatives pricing and structuring, risk management, model validation and benchmarking. The extended use of FastVal will help the association鈥檚 financial risk department price and manage complex interest rates and FX over the counter (OTC) products more efficiently.
FastVal Analytics has been integrated with SunGard鈥檚 Adaptiv risk management solution to provide CECA with a combination of valuation and risk analytics. The integrated solution will help CECA increase its operational efficiency when valuing complex OTC derivatives and analyzing risk scenarios
Alberto Jos茅 Mart铆n Mu帽oz, head of CECA鈥檚 Market Risk Platform, said, "CECA鈥檚 risk department needed an efficient solution to help reduce the operational risk posed by having a number of different pricing solutions. In addition, as CECA provides services to different savings banks, we needed to extend our product coverage to include complex instruments. By choosing a solution integrated within our market risk platform, we will be able to manage the market and counterparty risk of the whole portfolio within SunGard鈥檚 Adaptiv.鈥�
Massimo Salerno, head of CECA鈥檚 Risk Services Center, added, 鈥淔urther reasons for the selection of SunGard鈥檚 FastVal Analytics were its ease of scripting new structured products, its coverage of OTC instruments, and SunGard鈥檚 expertise in measuring the market risk of complex derivatives.鈥�
Gavin Lee, chief operating officer of SunGard鈥檚 FastVal business unit, said, 鈥淚nstitutions require more transparent, efficient and integrated systems to manage increasing complexity. SunGard鈥檚 FastVal and Adaptiv will help satisfy CECA鈥檚 valuation, deal entry, risk management and regulatory reporting needs, helping CECA focus on its strategic goal of serving the interests of Spanish savings banks.鈥�
FastVal Analytics has been integrated with SunGard鈥檚 Adaptiv risk management solution to provide CECA with a combination of valuation and risk analytics. The integrated solution will help CECA increase its operational efficiency when valuing complex OTC derivatives and analyzing risk scenarios
Alberto Jos茅 Mart铆n Mu帽oz, head of CECA鈥檚 Market Risk Platform, said, "CECA鈥檚 risk department needed an efficient solution to help reduce the operational risk posed by having a number of different pricing solutions. In addition, as CECA provides services to different savings banks, we needed to extend our product coverage to include complex instruments. By choosing a solution integrated within our market risk platform, we will be able to manage the market and counterparty risk of the whole portfolio within SunGard鈥檚 Adaptiv.鈥�
Massimo Salerno, head of CECA鈥檚 Risk Services Center, added, 鈥淔urther reasons for the selection of SunGard鈥檚 FastVal Analytics were its ease of scripting new structured products, its coverage of OTC instruments, and SunGard鈥檚 expertise in measuring the market risk of complex derivatives.鈥�
Gavin Lee, chief operating officer of SunGard鈥檚 FastVal business unit, said, 鈥淚nstitutions require more transparent, efficient and integrated systems to manage increasing complexity. SunGard鈥檚 FastVal and Adaptiv will help satisfy CECA鈥檚 valuation, deal entry, risk management and regulatory reporting needs, helping CECA focus on its strategic goal of serving the interests of Spanish savings banks.鈥�
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