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 intraday 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 incrreasing 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.”