RioFin Managing Director, Gavin Lavelle Joins SunGard as President
Of the Panorama Operating Unit
NEW YORK, June 19 /PRNewswire/ -- SunGard Trading and Risk Systems today
announced the acquisition of RioFin Limited, a UK-based company that
specializes in delivering value-added applications for equity, equity
derivatives and convertibles. As part of the acquisition, Gavin Lavelle,
founder and principle shareholder of RioFin, has joined SunGard as president
of its Panorama operating unit. RioFin develops and markets RioEquity, an
equity, equity derivatives and convertibles system that provides comprehensive
functionality for trading, operations/controlling and risk management. The
acquisition, the terms of which have not been disclosed, is not expected to
have a material impact on SunGard's financial results.
SunGard has acquired RioFin following a close and successful development
partnership which began in 1998. RioEquity -- built on the Panorama platform
-- is fully integrated with Panorama, SunGard's enterprise solution for
integrated cross-asset trading, market, credit and operational risk. RioFin,
already an important component of Panorama's existing functionality, completes
the enterprise-wide risk management solution by adding extensive coverage for
equity, equity derivative and convertibles.
Leading financial institutions worldwide, including investment and
commercial banks, asset managers, hedge funds and stock brokers currently use
Panorama/RioEquity as a single solution for implementing complex cross-asset
trading and hedging strategies. RioEquity will be renamed Panorama Equity as
part of the Panorama product suite.
Panorama provides support for non-equity related instruments, including
interest rate derivatives, fixed income, exotic derivatives, commodities,
foreign exchange and money market instruments. RioEquity product coverage is
extensive for equity, equity derivative and convertibles and is fully
integrated and compatible with all of these assets and associated analytics
within Panorama. The system provides comprehensive and sophisticated real-time
reporting and analysis for traders of equity-based products and is available
via Web technologies over the intranet/Internet. In addition, RioEquity offers
a full front-to-back processing solution for equity-based products by linking
seamlessly with SunGard's back-office solutions.
RioEquity runs under the Microsoft(R) Windows NT operating system, making
full use of the graphical interface and component technologies such as COM.
Interactive data entry through pull down menus and dialog boxes make RioEquity
intuitive and easy to use.
Jim Ashton, group chief executive officer of SunGard Trading and Risk
Systems said, "We are excited to welcome Gavin and his team into the SunGard
family. Gavin brings us a great deal of experience in the risk management and
derivatives markets. I am confident that his industry and business experience
will prove to be a great asset to the Group."
Gavin Lavelle added, "I am delighted to be joining SunGard. I truly
believe that both SunGard's clients and the Panorama suite will benefit
strongly from this acquisition. The acquisition makes RioFin firmly part of
the Panorama product suite and gives SunGard the opportunity to align
development resources of our equity derivatives solution more closely with our
clients' requirements."
Mr. Lavelle brings over eighteen years experience to SunGard. Prior to
establishing RioFin in 1998, he was worldwide head of equities and equity
derivatives risk management at Deutsche Bank. He also worked at Banque Paribas
for eight years, where he was head of equity derivatives trading.
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 easily 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 MS COM and XML. Panorama uses the
latest Internet technologies to provide interactive remote access via the Web.
Using any Web-enabled device, users can access portfolio analyses in
real-time, including custom analyses developed by clients or third parties.
http://www.risk.sungard.com/prod/panorama/index.htm
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.
NOTE: 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 Trading and Risk Systems
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Related links:
http://www.sungard.com
Company News On-Call:
http://www.prnewswire.com/comp/115467.html or fax,
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CONTACT:
Europe, Sally Clarke, 44-207-337-1018, or
fax, 44-207-337-6010, or sally.clarke@risk.sungard.com, or The
Americas, Adriana Senior, 212-317-7489, or fax, 212-223-0220, or
adriana.senior@risk.sungard.com, both of SunGard Trading and Risk
Systems
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