SunGard Trading and Risk Systems has acquired California-based SymphonyRPM's risk management technology, WhiteLight Basel II, for an undisclosed sum.
WhiteLight Basel II is a calculation, analysis and reporting system that utilises the SymphonyRPM Analytic Platform. Under the acquisition, the software will be rebranded as the SunGard Basel II Capital Manager and will be integrated with its other Basel II products.
In addition, WhiteLight's Basel II development team will become part of SunGard Trading and Risk Systems' BancWare operating unit.
Jim Ashton, group chief executive officer of SunGard Trading and Risk Systems, says: "A regulatory calculation and analysis engine is a key component for financial institutions that want to be Basel II compliant. With our acquisition of the WhiteLight Basel II solution, we are able to offer the SunGard Basel II Capital Manager for capital calculations, completing our current Basel II offering."
SunGard says its Basel II Capital Manager package will help financial firms comply with the Accord by providing capital and economic calculation models for the balance sheet, stress testing and reporting for market disclosure.
As part of the agreement, SunGard also has the right to develop other analytic applications based on the SymphonyRPM Analytic platform. The vendor has been using the technology underlying the SymphonyRPM platform in its BancWare profitability and performance measurement software for several years.
Ashton adds: "We expect the SymphonyRPM Analytic Platform to add value to other SunGard solutions by providing real-time data access, rule-driven calculations, predictive analysis and interactive OLAP exploration capabilities."
Commenting on the acquisition, WhiteLight's managing director Richard Reeves, says: "As a part of SunGard we will be able to leverage a global network of resources and distribution channels to provide the presence, delivery and implementation skills needed to help clients comply with evolving regulatory demands."
More than 50 financial institutions currently use the SymphonyRPM Analytic Platform. Recently, UK-based Alliance & Leicester selected WhiteLight’s Basel II solution for its regulatory compliance requirements.