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Bayerische installs Sentry collateral system

21 November 2000  |  2154 views  |  0 Bayerische installs Sentry collateral system

The New York branch of Bayerische Hypo-und Vereinsbank has installed Algorithmics' Sentry product for collateral management following a successful implementation in Munich last year.

The multi-department solution will be used by staff in front-office trading, credit risk management and the legal department to collaborate on collateral management deals. Sentry records and tracks master/collateral agreement information, calculates margin call requirements, monitors the status of collateral obligations and collateral inventories and provides management information. It is to be integrated with the Philadelphia-based company's Algo Suite, built on a mark-to-future framework, with the company also offering an online version, eSentry.

Marshall Terry, director, HVB, in charge of setting up the collateral management programme at the New York office says the bank instigated a formal RFP process to source the vendor with the best price/performance.

He adds: "Currently, our collateral business is based on day-ending prices but over time it will become more practical to monitor the collateral on an intra- day basis. To this effect, the contractual documentation may have to change, but Sentry, in combination with Algorithmics' mark-to-future standard, gives us a solid foundation for intra-day collateral management."

The system is to be rolled out within weeks for core business at the New York branch.

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