(Vocus) December 10, 2009
SunGard has released a new version of FastVal, its independent valuation service for vanilla cash and complex structured products and OTC derivatives. SunGard’s FastVal 3.0 provides financial institutions with transparency of the models and underlying market data used in the valuation, as well as enhanced Greeks, greater functionality in the running of intra-day valuations, and coverage of market data across a multitude of securities. The solution is delivered on an application service provider (ASP) basis.
Increasing investor demand for more independent and transparent valuation of their investments is driving financial institutions to command greater confidence in the models and their underlying calculations and data.
SunGard’s FastVal 3.0 gives access to detailed information on the models, the calibration figures involved, and the data series used – down to each individual data point. By capturing continuous data feeds from exchanges, brokers and other data vendors worldwide, FastVal produces valuations when customers need them using high quality data input for models. The solution also helps firms alleviate the challenges of data collection, cleansing and storage operations. In addition, institutions can now obtain independent valuations on their positions up to four times a day. FastVal 3.0 also provides a range of Greeks to support risk management, helping customers gain greater clarity on the conditions driving the value of their portfolios.
John Jay, senior analyst at Aite Group, commented: “Regulators, auditors, investors, fiduciaries and senior managers are all demanding that the prices of portfolio assets are justified by rational and consistent pricing and valuation processes, as well as any supporting market and security data, with an eye toward conflict of interest issues. Clearly there is a need for technology solutions that can help firms meet these demands quickly and efficiently.”
Gavin Lee, chief operating officer of SunGard’s FastVal business unit, said, “Market conditions have led to a greater focus on independent valuations, as well as increasing demand for greater transparency and efficiency in the way portfolios are valued. FastVal’s enhanced models and approach to intra-day valuations, along with its expanded analytical functionality, will help institutions value their portfolios in an independent, transparent, timely and cost-effective way across a range of financial instruments.”
About SunGard’s FastVal
FastVal is an ASP portfolio valuation service, accessed over 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.
Join us for our online webinar as we introduce the enhanced FastVal Independent Valuation Service, on Tuesday 15th December 2009.
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.
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 US$5 billion, SunGard is ranked 435 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 six times. For more information, please visit SunGard at http://www.sungard.com.
*January 2009 Technology Vendors Financial Database Tracker http://www.datamonitor.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.