FastVal News
SunGard Adds Fitch Solutions CDS Data to its FastVal Service for Independent Valuations
November 3, 2011 — London
SunGard has chosen Fitch Solutions consensus CDS pricing service to enhance SunGard’s FastVal, an independent valuation service for vanilla and structured OTC derivatives.
Fitch’s CDS Pricing Service covers up to 3,000 single name CDS contracts using independent pricing data from the member banks of Fitch's global pricing services consortium. It also includes Fitch CDS Benchmarking for highly illiquid names, a tool which provides indicative spread values where there is insufficient market information to determine a consensus price based on market maker contributions.
Ian Rothery, Fitch Solutions’ global head of Third-Party Distribution and Partnerships, said, “SunGard’s strength in the industry means its customers include many of the world’s leading financial services firms. SunGard’s global reach will help us further extend access to Fitch Solutions’ products and services.”
“With credit becoming an increasingly important factor in derivative valuations, we need to help ensure that our customers have access to high quality, independent, accurate and timely pricing information for their risk management purposes,” said Gavin Lee, chief operating officer of SunGard's FastVal business unit. “Fitch Solutions, which has a proven track record in delivering CDS information and data services, combined with our existing data and analytics will help further strengthen the quality of SunGard’s FastVal valuation service.”
About Fitch Solutions
Fitch Solutions, a division of the Fitch Group, focuses on the development of fixed-income products and services, bringing to market a wide range of data, analytical tools and related services. The division is also the distribution channel for Fitch Ratings content. The Fitch Group also includes Fitch Ratings and is a majority-owned subsidiary of Fimalac, S.A. For additional information, please visit 'www.fitchsolutions.com'; 'www.fitchratings.com'; and 'www.fimalac.com'. For more information about Fitch Solutions’ CDS Pricing Service go to www.fitchratings.com / Fitch Solutions / Products & Services.
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
SunGard is one of the world's leading software and technology services companies. SunGard has more than 20,000 employees and serves more than 25,000 customers in more than 70 countries. SunGard provides software and processing solutions for financial services, higher 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 $5 billion, SunGard is ranked 434 on the Fortune 500 and is the largest privately held business software and IT services company. Look for us wherever the mission is critical. For more information, please visit SunGard at www.sungard.com.
Trademark Information: SunGard, the SunGard logo and FastVal are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or trademarks are registered trademarks of their respective holders.