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SunGard Adds Data from GFI Group to Enhance its FastVal Derivatives Valuation Service

SunGard has added data from GFI Market Data, a division of GFI Group Inc. (“GFI”), to help enhance the quality of the data in SunGard’s FastVal, which provides independent valuation services. GFI, a leading provider of wholesale brokerage, clearing services, electronic execution and trading support products for global financial markets, will supply FX data to FastVal, to help customers of the service independently value a wider range of derivatives.

Customers including banks, asset managers, fund administrators, structurers, collateral managers and corporate treasurers rely on SunGard’s FastVal to accurately value individual trades and holdings, as well as entire portfolios. Compliance, senior management, risk management, accounting, regulators and investors will benefit from access to this enhanced data to help independently value FX options.

“GFI Market Data provides an independent view on the tradable market for FX options captured from our award –winning trading system GFI ForexMatch,” said Philip Winstone, global head of sales at GFI Market Data. “In today’s environment it is imperative that those involved in the valuations business have access to independent, accurate and timely data. We are pleased to be able to provide that to SunGard’s FastVal and to assist it in the provision of a more complete picture of exposure and underlying value.”

Gavin Lee, chief operating officer of SunGard’s FastVal business unit, said, “We strive to source the best quality data for our FastVal valuation service. As one of the leading brokers, GFI has a strong global footprint in FX trading.  Adding GFI’s FX data to our existing specialist market data sources will help us provide our customers with accurate valuations on an increasing range of derivatives, based on quality data parameters.”

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