Deloitte LLP, a leading global provider of audit, tax, consulting and financial advisory services, has selected SunGard's FastVal, an independent valuation service for vanilla and complex over-the-counter (OTC) derivatives.
Deloitte will use FastVal to provide it with an independent valuation service when revaluing its clients' derivatives portfolios.
FastVal's coverage of vanilla and OTC derivatives will help Deloitte value a wide range of instruments across its clients' portfolios. FastVal incorporates the latest innovations in the derivatives market and its flexibility will help Deloitte continue to service its clients as their business needs change. With FastVal, Deloitte will have access to the modeling techniques and data used in each individual valuation, providing transparency in the valuation process.
Tom Millar, director at Deloitte LLP, said, "SunGard's FastVal will help us produce independent valuations of derivatives portfolios more efficiently. We selected SunGard's FastVal because it meets our requirements relating to quality of the service, usability and breadth of instrument coverage."
Gavin Lee, chief operating officer of SunGard's FastVal's business unit, said, "SunGard's FastVal will help Deloitte offer a comprehensive service to its clients with a standard valuation process across derivatives. It will also provide greater transparency into Deloitte's valuation of its clients' portfolios."