Panorama to Provide Integrated Market and Credit Risk Management
NEW YORK, June 21 /PRNewswire/ -- SunGard Trading and Risk Systems, an
operating group of SunGard (NYSE: SDS), today announced that Kommuninvest, a
credit market company owned by the Swedish local government funding agency
Kommuninvest Cooperative Society, and Kommunalbanken, the Oslo-based Norwegian
local government funding agency, are installing Panorama for cross-asset
trading and straight-through processing combined with integrated market and
credit risk management.
Kommuninvest and Kommunalbanken follow a policy of cooperation with each
other and other Nordic funding agencies, with the objective of fostering
competition for loans to the local government sector in their respective
countries by offering the most cost-effective financing possible. Having
Panorama installed at both entities will enable them to synchronize much of
their business processes in order to achieve that goal.
Kommuninvest and Kommunalbanken have selected Panorama as part of their
strict risk management discipline. Panorama will support trading, risk
management and straight-through processing for a wide range of assets traded
by the two funding agencies, including interest rates, fixed income, forex and
money markets and their derivatives, as well as structured products including
equity-linked bonds. Deals will automatically feed through Panorama,
generating event-driven confirmations and postings to the general ledger,
alongside payments and settlements. Panorama will also perform both market and
credit risk measurements, and support the setting and monitoring of firmwide
credit limits.
Thomas Akelius, chief executive officer of Kommuninvest, said, "We
selected Panorama as the technical platform to support our conservative risk
policies because of its ability to provide straight-through processing for a
broad range of sophisticated instruments, and because of its integrated market
and credit risk functionality. In addition, Panorama offers us a flexible and
extensible platform that can grow and expand with our business. We are very
pleased with SunGard's professional local support team and with the
implementation process thus far."
Gavin Lavelle, president of SunGard's Panorama operating unit, said,
"Panorama, backed by an expert local support team, has been an unmatched
combination for success in the Nordic region. Panorama's flexibility not only
enables system customization for local specifications but for the varied needs
of institutions of all types and sizes, including government funding agencies,
asset management firms, hedge funds and banks."
About Kommuninvest
Kommuninvest is a credit market company owned by Kommuninvest Cooperative
Society. The cooperative society currently has 115 members (112 Swedish
municipalities and 3 county councils). Kommuninvest was established to provide
the most favorable opportunities possible for raising the finance that is
necessary to fund the investment activities of the members of Kommuninvest
Cooperative Society and the companies that these members own. In this way the
company serves the mutual interest of all Swedish municipalities by
contributing to reducing the costs incurred by the public sector when raising
the loans it needs. Kommuninvest's total lending is currently in the region of
30 billion Swedish kronor (SEK 30 bn).
About Kommunalbanken
Kommunalbanken is the Norwegian local government funding agency. Its
objective is to secure competitive financing for Norwegian local governments.
Loans are granted solely to local governments or against a guarantee from a
local government. In its 75 years of operation, Kommunalbanken has not
experienced any loan losses. Kommunalbanken has been assigned a long term
AAA/Aaa credit rating by Standard & Poor's and Moody's Investors Service Ltd.
In March 2001, Kommunalbanken was awarded the MTNWeek's Award as Best new
Euro-MTN Borrower.
About SunGard Trading and Risk Systems
SunGard Trading and Risk Systems provides integrated, enterprise-wide
solutions for financial trading, risk management and operations, as well
as asset liability management and financial planning and forecasting.
Serving over 500 clients, it offers Web-enabled solutions for achieving
straight-through processing, and for managing market, credit and operational
risk. Clients include banks, broker/dealers, asset managers, hedge funds,
corporate and government treasuries of every size, geographical reach and
operational complexity. For energy companies, SunGard Trading and Risk
Systems provides trading, risk management and commodity scheduling software
solutions.
About SunGard
SunGard 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, the SunGard logo and Panorama 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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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 fax, 44-207-337-6010, or
sally.clarke@risk.sungard.com, or Fiona Sowerby, 65-227-6400, or
fax, 65-227-6277, or fiona.sowerby@risk.sungard.com, all of
SunGard Trading and Risk Systems
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