FastVal News
SunGard Adds Data from GFI Group to Enhance its FastVal Derivatives Valuation Service
October 19, 2011 — London
SunGard has added data from GFI Market Data, a division of GFI Group Inc. (“GFI”), to help enhance the quality of the data in SunGard’s FastVal, which provides independent valuation services. GFI, a leading provider of wholesale brokerage, clearing services, electronic execution and trading support products for global financial markets, will supply FX data to FastVal, to help customers of the service independently value a wider range of derivatives.
Customers including banks, asset managers, fund administrators, structurers, collateral managers and corporate treasurers rely on SunGard’s FastVal to accurately value individual trades and holdings, as well as entire portfolios. Compliance, senior management, risk management, accounting, regulators and investors will benefit from access to this enhanced data to help independently value FX options.
“GFI Market Data provides an independent view on the tradable market for FX options captured from our award –winning trading system GFI ForexMatch,” said Philip Winstone, global head of sales at GFI Market Data. “In today’s environment it is imperative that those involved in the valuations business have access to independent, accurate and timely data. We are pleased to be able to provide that to SunGard’s FastVal and to assist it in the provision of a more complete picture of exposure and underlying value.”
Gavin Lee, chief operating officer of SunGard's FastVal business unit, said, "We strive to source the best quality data for our FastVal valuation service. As one of the leading brokers, GFI has a strong global footprint in FX trading. Adding GFI’s FX data to our existing specialist market data sources will help us provide our customers with accurate valuations on an increasing range of derivatives, based on quality data parameters.”
About GFI Group
GFI Group Inc. (NYSE: “GFIG”) is a leading provider of wholesale brokerage services, clearing services, electronic execution and trading support products for global financial markets. GFI Group Inc. provides brokerage services, market data, trading platform and analytics software products to institutional clients in markets for a range of fixed income, financial, equity and commodity instruments.
About GFI Market Data
GFI is uniquely positioned to provide the capital markets with specific suites of data. GFI Market Data refers to actual market prices and trade information, reflecting real market sentiment not just indications gleaned through consensus pricing. GFI Market Data’s product suite includes CDS, bonds, fx options, equities, interest rates and energy and commodities data. GFI Market Data is the brand under which Fenics Software Limited operates its market data business.
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 registered trademarks of their respective holders.