360 AM Selects SunGard’s FastVal for Independent Valuation of Complex Derivatives
Paris - 06 March 2012
360 Asset Managers (360 AM), a French asset manager with €160M* in assets under management, has selected SunGard’s FastVal to help it independently value its derivative portfolios. FastVal, an ASP-based, independent valuation service for vanilla and complex over-the-counter (OTC) derivatives will help 360 AM increase its operational efficiency when valuing complex OTC derivatives. It will also help its risk department to meet French and international regulatory requirements for its accounting and compliance practices. 360 Asset Managers is registered with and regulated in France by the Autorité des Marchés Financiers (AMF).
SunGard’s FastVal will be used by 360 AM to help manage the increasing complexity of derivatives pricing with a flexible valuation service that can independently value any derivative product or portfolio. The solution will also give 360 AM access to the actual data used in the valuation process and full transparency of its valuations, helping it independently price its complex or vanilla OTC derivative instruments without losing control of its pricing process.
Olivier Blitz, president at 360 AM, said, "360 AM’s risk department needed a solution to help build products that are simple, liquid, and transparent while reducing operational risk and meeting French regulatory requirements. SunGard’s FastVal offered expertise in valuing complex derivatives and its ease of implementation and broad coverage of OTC instruments will help us remain adaptable to change as the industry evolves.”
Gavin Lee, chief operating officer of SunGard’s FastVal’s business unit, said, “Changing and increasing regulatory requirements are placing greater demand for transparency in the way that derivatives are valued. SunGard’s FastVal will help 360 AM gain improved transparency and control in the management and valuation of its portfolio risk, in line with current and future regulatory requirements.”
About 360 AM - Asset Managers
360 Asset Managers is a dynamic asset management company based in Paris. 360 Asset Managers’ activities are focused on the discretionary management of life insurance contracts, collective management for 6 mutual funds and mandate activities for dedicated funds. 360 AM website address: http://www.360-am.com
About SunGard’s FastVal
SunGard’s FastVal is an ASP portfolio valuation service, accessed via the Internet that provides independent valuations for individual trades and holdings as well as entire portfolios. FastVal is powered by a proprietary pricing language that can describe any financial instrument based on cash flows, calendar events and boundary conditions. This helps FastVal to respond rapidly to developing markets and products and assimilate new instruments. FastVal uses both single and multi-factor models with a choice of numerical methods to price and structure derivatives in a wide range of asset classes. www.sungard.com/fastval/learnmore
About SunGard Financial Systems
SunGard Financial Systems provides mission-critical software and IT services to institutions in virtually every segment of the financial services industry. The primary purpose of these systems is to automate the many detailed processes associated with trading, managing investment portfolios and accounting for investment assets. These solutions address the processing requirements of a broad range of users within financial services, including asset managers, traders, custodians, compliance officers, treasurers, insurers, risk managers, hedge fund managers, plan administrators and clearing agents. In addition, we also provide professional services that focus on application implementation and integration of these solutions and on custom software development.
SunGard is one of the world’s leading software and technology services companies. SunGard has more than 17,000 employees and serves approximately 25,000 customers in more than 70 countries. SunGard provides software and processing solutions for financial services, education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software. With annual revenue of about $4.5 billion, SunGard is the largest privately held software and services company and was ranked 434 on the Fortune 500 in 2011. Look for us wherever the mission is critical. For more information, please visit www.sungard.com.
*Assets under management as at 31 December 2011.
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