The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

Hungary’s OTP Bank Deploys SuperDerivatives’ Revaluation Service to Improve Hedging and Transparency

Share article

OTP Bank, the biggest commercial bank in Hungary, has selected SuperDerivatives (SD), the derivatives benchmark, to provide market-accurate revaluations for its varied derivatives portfolio.

Krisztian Kovacs, head of middle office department at OTP Bank, comments: “We needed a reliable, independent view of the value of the broad range of vanilla and complex FX and interest rates derivatives on our books, in order to accurately hedge risk and maximise business activities across Central and Eastern Europe.”

OTP Bank chose SD-Reval, SD’s comprehensive, independent and market reflective revaluation solution for entire derivatives portfolios, which covers an extensive range of hard to price liquid and illiquid assets.

Supported by a proven pricing model, SD-Reval provides the highest levels of transparency and enables companies to comply with required accounting, auditing and regulatory requirements and standards such as FAS 133, FAS 157, IAS 39, IFRS, MiFID Best Execution and SAS 70.

Kovacs continues: “We have a significant amount of complex structures on our books, which many revaluation services simply could not accurately price. SD-Reval tackles these valuation issues head on with an exceptionally accurate pricing model. We have been hugely impressed with how closely the portfolio valuations provided by SD match the actual market value for these structures.”

David Shulman, senior sales director at SD, comments: “In the last couple of years we have invested significant R&D efforts into meeting customers’ needs for third party revaluation in a shifting financial landscape.

“Our prompt reaction means that OTP Bank and other customers across the buy and sell side can now benefit from a service that spans all asset classes and instrument types, delivering fully-automated, same day revaluation of even the largest portfolios.

“This also allows banks to improve their customer service, ensuring that customers have the independent, fair market value of their portfolio as soon as they need it.”

Related content

WEBINAR

Recorded Webinar: Last minute preparations for SFTR: What still needs to be done and are we ready?

The regulation clock is ticking. Financial firms, especially those subject to Phase I of implementation, are well aware of the impending April 2020 deadline for the Securities Financing Transactions Regulation. The question is, are they ready? Tactical, i.e painful, approaches to compliance won’t be good enough. A strategic plan of attack is necessary to combat...

BLOG

Asset Control Wins with New Managed Services Contracts

Venerable Annuity, the legacy annuity business of Voya Financial (created by an investor group led by affiliates of Apollo Global Management, LLC, Crestview Partners and Reverence Capital Partners) has confirmed the migration of its data management systems to AC PaSS, the cloud-based managed service solution from Asset Control. The ACPaSS solution will provide Venerable with...

EVENT

RegTech Summit Virtual

The RegTech Summit Virtual which took place in June 2020 was a huge success with over 1,100 delegates registered. We are currently working on our plans for 2021 and we hope to be back with an in-person event. Whatever the future holds you can guarantee our 2021 event will be back with an exceptional guest speaker line up of Regtech practitioners, regulators, start-ups and solution providers to collaborate and discuss innovative and effective approaches for building a better regulatory environment. Can't wait until 2021? make sure you sign up to our RegTech Summit Virtual, November 2020. More info...

GUIDE

The Trading Regulations Handbook

Need to know all the essentials about the regulations impacting trading infrastructure? Welcome to the first edition of our A-Team Trading Regulations Handbook which provides all the essentials about regulations impacting trading operations, data and technology. A-Team’s Trading Regulations Handbook is a great way to see at-a-glance: All the regulations that are impacting trading technology...