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A-Team Insight Blogs

CECA Extends Use of SunGard’s FastVal Analytics for Valuing Complex Derivatives

Confederación Española de Cajas de Ahorros (CECA), the National Association of Spanish Savings Banks, is expanding its use of SunGard’s FastVal Analytics, a comprehensive suite of derivatives pricing models used by international financial institutions for derivatives pricing and structuring, risk management, model validation and benchmarking. The extended use of FastVal will help the association’s financial risk department price and manage complex interest rates and FX over the counter (OTC) products more efficiently.

FastVal Analytics has been integrated with SunGard’s Adaptiv risk management solution to provide CECA with a combination of valuation and risk analytics. The integrated solution will help CECA increase its operational efficiency when valuing complex OTC derivatives and analyzing risk scenarios.

Alberto José Martín Muñoz, head of CECA’s Market Risk Platform, said, “CECA’s risk department needed an efficient solution to help reduce the operational risk posed by having a number of different pricing solutions. In addition, as CECA provides services to different savings banks, we needed to extend our product coverage to include complex instruments. By choosing a solution integrated within our market risk platform, we will be able to manage the market and counterparty risk of the whole portfolio within SunGard’s Adaptiv.”

Massimo Salerno, head of CECA’s Risk Services Center, added, “Further reasons for the selection of SunGard’s FastVal Analytics were its ease of scripting new structured products, its coverage of OTC instruments, and SunGard’s expertise in measuring the market risk of complex derivatives.”

Gavin Lee, chief operating officer of SunGard’s FastVal business unit, said, “Institutions require more transparent, efficient and integrated systems to manage increasing complexity. SunGard’s FastVal and Adaptiv will help satisfy CECA’s valuation, deal entry, risk management and regulatory reporting needs, helping CECA focus on its strategic goal of serving the interests of Spanish savings banks.”

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