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Yorkshire turns to FastVal for derivatives pricing

24 February 2004  |  2904 views  |  0 Yorkshire turns to FastVal for derivatives pricing

Yorkshire Building Society is to use Reech FastVal from SunGard Trading and Risk Systems to value and price structured interest rate and equity instruments.

The UK's third-largest building society - a SunGard customer since 2000 - will access FastVal online to value derivatives elements of new long-term treasury products.

The building society has also licensed Reech Automatic Derivatives Pricer (ADEP), a proprietary language that describes financial products in plain English and provides the value and risk management parameters for them.

Richard Driver, the Yorkshire’s treasury derivatives market manager, says: "We chose Reech FastVal because we needed a system that can accommodate the wide variety of structures that we currently need to value and price, with the flexibility to handle instruments that we might encounter in the future."

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