Press Releases

Interbanca Selects SunGard’s Reech for Risk Calculations

March 5, 2009 — Milan

Interbanca S.p.A.,  an Italian banking  group, has selected SunGard’s Reech RiskHedge, a risk management engine, for the valuation of its complex portfolios.  Reech RiskHedge will help Interbanca’s risk department compute the Value at Risk (VaR) of its positions. Delivered on an application service provider (ASP) basis, Reech RiskHedge will help Interbanca keep entry and support costs low, while maximizing the speed of implementation.

As regulatory demands increase, SunGard’s Reech RiskHedge will help Interbanca’s risk department measure the risk of incurring loss due to fluctuation in security prices, option volatility and credit spreads. It will also help the bank produce various market risk reports that reflect market sensitivities or the complete VaR of the portfolio.

Andrea Liso, head of information systems at Interbanca, commented: “Interbanca’s risk department decided to find a single risk management platform able to aggregate risk positions in accordance with industry best practices. We were looking for high quality of results, quantitative expertise and sophistication.  After a short selection process, SunGard’s Reech RiskHedge was considered the appropriate solution and will help simplify our whole risk management process.”

David Hassell, head of sales for SunGard’s alternative investments business, said: “Interbanca was looking for a transparent and innovative risk engine that could help it manage the risk of its complex portfolios which include a broad range of asset classes, such as interest rate, credit, foreign exchange, equity and structured bonds. SunGard’s Reech RiskHedge will help Interbanca better manage its portfolio risks.”

Reech RiskHedge has been designed to give customers access to risk technology at a cost tailored to accommodate different portfolios and fund structures. This service can accommodate virtually any trade structure on a broad range of asset classes, making it suitable for a wide variety of portfolios and/or funds, irrespective of strategy and size. The ASP delivery method of SunGard’s Reech RiskHedge allows users to access the service through a browser, with no investment in technology or infrastructure.

About Interbanca
INTERBANCA S.p.A. was set up in 1961 by Banco Ambrosiano, Banca d'America e d'Italia and Banca Nazionale dell'Agricoltura. Since its incorporation, it has been very active in lending and financing transactions for medium sized companies. After its entry into Antonveneta Group (the seventh most important Italian banking group) in 1997, Interbanca takes a strategic role on equity investments, investment banking and securities trading assisted by its new management team with proven experience and success. The bank's services are mainly aimed at medium sized companies. Accordingly it has set up special functions which have enabled the rapid development of new services. In January 2006 Interbanca within the Parent Bank Antonveneta enters into the Dutch Group ABN AMRO.

In June 2008 GE Commercial Finance and Banco Santander SA signed a definitive agreement to swap certain previously announced European assets(March 27th 2008). Under the agreement, GE will acquire Interbanca, assigned to Banco Santander following the carve-up of ABN Amro.

Interbanca has its own network of 11 branches throughout Italy (Ancona, Bari, Bologna, Brescia, Catania, Milan, Naples, Rome, Turin, Treviso and Vicenza). It also provides customers with comprehensive assistance by its qualified managers including access to capital markets and specialist services

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 FastVal is the independent OTC derivatives valuation service. It is available on an ASP basis, utilizing proprietary models and independent market data, collated and constructed from several reliable data sources. Reech RiskHedge is the risk management service for the hedge fund market, using independent data and delivered via an ASP interface.

About SunGard
SunGard is one of the world’s leading software and IT services companies.  SunGard serves more than 25,000 customers in more than 70 countries, including the world’s 25 largest financial services companies.

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 472 on the Fortune 500 and is the largest privately held business software and services company on the Forbes list of private businesses. Based on information compiled by Datamonitor*, SunGard is the third largest provider of business applications software after Oracle and SAP. Continuity, Insurance & Risk has recognized SunGard as service provider of the year an unprecedented five times.  For more information, please visit SunGard at www.sungard.com.

*January 2009 Technology Vendors Financial Database Tracker http://www.datamonitor.com

Trademark Information: SunGard, the SunGard logo and Reech 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.