NEW YORK, June 13 /PRNewswire/ -- SunGard Trading and Risk Systems
announced today that Seattle-based SAFECO Corporation has licensed Panorama
for trading and risk management. The company will use Panorama in its
investment department to support the trading and market risk management of
equities, swaps, bonds, interest rate options and money market instruments.
Panorama is the enterprise solution for integrated cross-asset trading,
market, credit and operational risk.
Henning Hasle, vice president in charge of risk management for SAFECO said
Panorama was selected primarily to increase the sophistication of its
financial risk management and achieve an aggregate company-wide picture of
risk. SAFECO also needed a system that would enable it to calculate the fair
market value of all its traded derivatives for reporting purposes.
Hasle said, "We selected Panorama over competing solutions because it is
the only fully integrated equity and fixed income system in the market. We
also have faith in SunGard's reputation as a market leader and trusted blue
chip systems provider."
SAFECO's investment department manages the company's insurance portfolios
as well as mutual funds, annuity products and institutional accounts. Panorama
will enable Safeco to optimize its risks through sophisticated asset and
liability management of those functions.
Gavin Lavelle, president of SunGard's Panorama unit said, "Panorama's
depth of analysis, broad asset coverage and proven reliability has made it one
of the most popular trading and risk systems. With its new asset management
module, Panorama now offers the investment management community a
market-proven robust system designed to fit its specific needs."
About SAFECO
SAFECO, in business since 1923, is a Fortune 500 diversified financial
service company based in Seattle. SAFECO and its more than 17,000 independent
agents and financial advisors provide premier insurance and financial services
to individual customers.
SAFECO's insurance subsidiaries engage in both property and casualty
insurance and life and health insurance. SAFECO Credit Company provides loans
and equipment financing and leasing to commercial businesses. SAFECO Asset
Management advises the SAFECO family of mutual funds, Safeco Trust Company,
and other outside managed accounts.
About Panorama
Panorama is an enterprise-wide real-time solution that provides integrated
cross-asset trading, market, credit and operational risk. Panorama sets new
standards for adaptive functionality, ease of integration, scalability and
rapid time-to-value. At live-sites in 24 countries, Panorama is a proven
real-world solution to the wide-ranging needs of organizations of any size and
operational complexity. It integrates in real-time with existing systems to
build and maintain a complete risk and position keeping database of all
firm-wide trading and processing activities. Panorama is based on a scalable
multi-tiered architecture built on Microsoft COM and XML. Panorama uses the
latest Internet technologies to provide interactive remote access via the Web.
Using a Web-enabled device, users can access portfolio analyses in real-time,
including custom analyses developed by clients or third parties.
About SunGard
SunGard (NYSE: SDS) is a global leader in integrated IT solutions and
eProcessing for financial services. SunGard is also the pioneer and a leading
provider of high-availability infrastructure for business continuity. With
annual revenues in excess of $1 billion, SunGard serves more than 10,000
clients in over 50 countries, including 47 of the world's 50 largest financial
services institutions. Visit SunGard at http://www.sungard.com.
Trademark Information: SunGard and the SunGard logo are trademarks or
registered trademarks of SunGard Data Systems, Inc. in the U.S. and other
countries. All other trade names are trademarks or registered trademarks of
their respective holders.
SOURCE Sungard
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Related links:
http://www.sungard.com
Company News On-Call:
http://www.prnewswire.com/comp/115467.html or fax,
800-758-5804, ext. 115467
CONTACT:
Adriana Senior, 212-317-7489, or fax,
212-223-0220, or adriana.senior@risk.sungard.com, or Sally
Clarke, 44-207-337-1018, or sally.clarke@risk.sungard.com, both
of SunGard Trading and Risk Systems Group
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