SunGard’s Adaptiv Wins Credit Magazine Technology Innovation Award
November 5th, 2010 — London, UK
SunGard's Adaptiv has won Credit magazine's third annual Technology Innovation Award for the Adaptiv Optimal Counterparty Selector, a credit value adjustment (CVA) solution for OTC derivatives. Adaptiv Optimal Counterparty Selector helps traders follow best practices when entering into hedging transactions by simultaneously performing pre-deal checks for an OTC transaction against multiple counterparties. The solution indicates the CVA associated with the proposed deal against each counterparty and the acceptability of a deal from a limit control point of view, helping risk-takers select the best counterparty for the deal.
The Credit Innovation Awards recognize key developments in technology over the past year in the credit industry, particularly in response to challenges in analytics, risk management, pricing and valuation. The awards are given to firms that have made enhancements or changes to their products or launched new products over the past year that are of significant value to Credit's readers. Submissions were judged by Credit's editorial team and on the basis of endorsements from industry users.
The ability to select the optimal counterparty leads to lower CVA charges and more efficient use of risk capital, an increasingly scarce and expensive resource. SunGard's Adaptiv directly addresses the changing landscape for credit risk within the industry, in which traders need tools to help them consider the cost of credit and of counterparties along with best price. Credit magazine said, "By allowing users to perform simultaneous pre-deal checks on every OTC transaction, the selector ensures the risk-taker can choose the best counterparty available, thereby optimising the P&L on trades."
Mat Newman, vice president of product management for SunGard's Adaptiv business unit, said, "We are pleased with the industry recognition SunGard's Adaptiv continues to receive. By providing both speed and accuracy in selecting optimal counterparties, Adaptiv Optimal Counterparty Selector helps risk-takers maximize profitability while reducing credit risk, exposure and costs."
About SunGard's Adaptiv
SunGard's Adaptiv provides enterprise-wide credit and market risk management and operations solutions for financial services institutions. Adaptiv assists institutions of varying size and complexity to deploy technology to meet both internal and regulatory requirements for risk management and operational control. Adaptiv helps financial services institutions from the banking, hedge fund, asset management, insurance and corporate sectors with our deep understanding of risk management and operational processes. Find out more at www.sungard.com/enterpriserisk.
SunGard is one of the world's leading software and technology services companies. SunGard has more than 20,000 employees and serves 25,000 customers in 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 exceeding $5 billion, SunGard is ranked 380 on the Fortune 500 and is the largest privately held business software and IT services company. For more information, visit www.sungard.com.
Trademark Information: SunGard, the SunGard logo and Adaptiv 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.