Trading and Risk Systems, an operating group of SunGard (NYSE:SDS), today announced the release of Adaptiv 2004. The new version of Adaptiv includes features for improved credit exposure management and limits tracking. Many of these features are aimed at promoting 'active credit management' - the ability to pro-actively deal with credit events - and increasing productivity and efficiency by intelligently pushing relevant information to users within the enterprise.
For increased operational efficiency, a credit ownership concept has been included in Adaptiv 2004. This manages the workflow associated with users and groups of users who manage distinct credit entities, such as groups of customers, industries or countries. Linked with Adaptiv’s workflow management mechanism and security features, this helps ensure that operational events are not overlooked, and helps prioritize users’ daily "to do" lists to facilitate operational efficiency.
The latest release has also seen the completion of a two year project to migrate user interfaces to a Microsoft .Net-based architecture using Web-based front-ends built using C#. This improves ergonomics while opening the solution to industry-standard integration technologies – such as Microsoft’s Web Services. The benefits of this new front-end include improved navigation and increased automation.
Adaptiv will include functionality that addresses client requirements for integrated on- and off- balance sheet coverage. Combined with the existing issuer risk functionality this will allow clients to see a comprehensive view of counterparty credit risk.
Also new is the Adaptiv Trade Administration module, which provides automated trade lifecycle event processing across both SunGard and non-SunGard trading applications. This is already installed and under client testing at a major Italian Bank.
Adaptiv Documentation, which receives, manages and transmits payments, confirmations and other user-defined lifecycle messages, is also available in Adaptiv 2004. The module supports a variety of message types from S.W.I.F.T. to free format. The addition of two-byte character sets supports local language confirmations, for example Mandarin and Arabic.
Functionality from SunGard’s Monis Convertibles Analyzer solution, which allows traders and risk managers to price and evaluate convertible bonds, is also available in Adaptiv 2004. Also available is SunGard’s Reech pricing models, which are used to value complex derivatives for trading or for comparison with other sources.
Steve Husk, president of SunGard’s Trading and Risk operating unit, said, "Adaptiv 2004 continues to build on the best elements of our well-established trading and risk management solutions with new features such as rules and risk-based workflow, improved trade capture and thin-client n-tier architecture delivered via Web Services. Adaptiv also addresses industry issues, helping banks with the credit risk elements of Basel II compliance, with FpML standards and with support for ISDA’s STP operations."