Press Releases
SunGard Enhances its Reech Analytics Library
November 19, 2008 — London
London, 19th November 2008 – SunGard has released a new version of its Reech Analytics Library (REAL), a suite of analytics tools for exotic derivatives pricing across multiple asset classes. REAL version 3.4 includes a number of solution upgrades and enhancements including new models for equity-interest rate hybrids and new calculation of Greeks, measuring sensitivity to volatility and interest rate movements (www.sungard.com/reech).
The new version delivers a new model for interest rate hybrid instruments, which combine the features of interest rate and equity structured products. Demand for the model has been driven by large banks whose structured products desks are creating these trades for their clients.
REAL version 3.4 offers calculation of Greeks, measuring the sensitivity to volatility and interest rate movements, in its equity and FX libraries for both local and stochastic volatility models. It also provides a wider range of first-order Greeks for equity, FX and interest rate models and enhances SunGard’s Reech FastVal solution, the independent valuation service for OTC derivative products, of which REAL is a key component.
Gavin Lee, chief operating officer of SunGard’s Reech business, commented: “The launch of REAL 3.4 is the result of a sustained programme of investment and development in SunGard’s Reech and FastVal solutions. Investors are increasingly looking for financial products tailored to their specific requirements - and these products often combine exposures to what were previously considered separate markets. Those who design, sell and buy such products need the tools to accurately estimate their value and risk exposures. The continuing development of our analytics tools means that we are able to help ensure that our customers have tools to accurately price and manage the risk of their derivative portfolios.”
About SunGard’s Reech
SunGard’s Reech provides independent portfolio valuation for derivatives and structured products, pricing and risk management. Reech is used by banks and brokerages, hedge funds, corporates and central banks to determine the value and risk parameters for a variety of products, from simple swaps to highly structured and exotic derivatives for asset classes including equity, fixed income, foreign exchange and credit. Reech RiskHedge is a risk management service for the hedge fund market, using independent data and delivered via an ASP interface. Reech FastVal is an independent OTC derivatives valuation service. Reech FastVal is available on an ASP basis, utilizing proprietary models and independent market data, collated and constructed from several data sources.
About SunGard
With annual revenue of $5 billion, SunGard is a global leader in software and processing solutions for financial services, higher education and the public sector. SunGard also helps information-dependent enterprises of all types to ensure the continuity of their business. SunGard serves more than 25,000 customers in more than 50 countries, including the world’s 25 largest financial services companies. Visit SunGard at www.sungard.com.
Trademark Information: SunGard, the SunGard logo, Reech, FastVal and REAL 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.