BHF Bank live with SunGard Futures' Octagon
13 December 2004 | 2782 views | 0
Germany-based BHF Bank has deployed SunGard Futures Systems' Octagon software to support its futures and exchange-traded derivatives processing operations.
Octagon is a trade management, processing and accounting system for exchange-traded derivatives, futures and options.
The bank is using the system to perform high volume processing, serve Eurex non-clearing members and support its expansion into new markets.
Vincent van Lith, MD, BHF Bank, says: "We needed a solution that could effectively support our tremendous growth and expansion in spite of a complex processing environment, while also providing greater efficiencies, economies of scale and reduced operational costs."
Van Lith says the Octagon system also provides a real-time online history, which will soon be a legal requirement Germany.
SunGard says the bank also uses its WorldSource for global daily market and revaluation data, and Global Margin Server (GMS) for initial and variation margin calculations, which integrate with Octagon to provide a straight-through processing operating environment.
Dutch banking group ING recently agreed to sell its BHF Bank subsidiary to Sal Oppenheim for EUR600 million.