360 Asset Managers (360 AM), a French asset manager with €160M* in assets under management, has selected SunGard's FastVal to help it independently value its derivative portfolios.
FastVal, an ASP-based, independent valuation service for vanilla and complex over-the-counter (OTC) derivatives will help 360 AM increase its operational efficiency when valuing complex OTC derivatives. It will also help its risk department to meet French and international regulatory requirements for its accounting and compliance practices. 360 Asset Managers is registered with and regulated in France by the Autorité des Marchés Financiers (AMF).
SunGard's FastVal will be used by 360 AM to help manage the increasing complexity of derivatives pricing with a flexible valuation service that can independently value any derivative product or portfolio. The solution will also give 360 AM access to the actual data used in the valuation process and full transparency of its valuations, helping it independently price its complex or vanilla OTC derivative instruments without losing control of its pricing process.
Olivier Blitz, president at 360 AM, said, "360 AM's risk department needed a solution to help build products that are simple, liquid, and transparent while reducing operational risk and meeting French regulatory requirements. SunGard's FastVal offered expertise in valuing complex derivatives and its ease of implementation and broad coverage of OTC instruments will help us remain adaptable to change as the industry evolves."
Gavin Lee, chief operating officer of SunGard's FastVal's business unit, said, "Changing and increasing regulatory requirements are placing greater demand for transparency in the way that derivatives are valued. SunGard's FastVal will help 360 AM gain improved transparency and control in the management and valuation of its portfolio risk, in line with current and future regulatory requirements."
*Assets under management as at 31 December 2011.