Ceca, the Spanish association of savings banks, and Komercni Bank of the Czech Republic, are the latest institutions to join the roster of SunGard Trading and Risk Systems clients.
The soon-to-be-privatised Komercni is to use SunGard's Infinity and BancWare solutions for trading, risk and asset/liability management. Infinity will support interest rate and foreign exchange derivatives trading, including structured products, and provide analytical tools for managing the market risks associated with that trading activity. BancWare will be used to manage interest rate risk across multiple currencies on Komercni’s balance sheet, and provide data management and advanced balance sheet simulation.
In Spain, the Confederacion Española de Cajas de Ahorros (Ceca), has selected Panorama to provide market and credit risk management to its members as part of its Global Risk Control Sectorial Project. The project will include the full range of risk types and business lines of the Spanish savings banks. The collection of savings banks accounts for more than 42% of total lending by banks in Spain, and 53% of deposits and mortgage lending.
Ceca will install and maintain Panorama at its Madrid headquarters, and 36 of its member banks will access Panorama remotely. Five more will install Panorama locally to manage the risks of their higher volume portfolios of complex derivatives. All banks will use Panorama to support a wide range of asset classes, including fixed income and equity derivatives. SunGard will also work with CECA to add support for credit derivatives to Panorama.