MOUNTAIN VIEW, Calif., July 2 /PRNewswire/ -- Infinity, a SunGard company,
today announced that Hydro Quebec, the world's seventh largest electric
utility in terms of sales, has chosen Infinity's Panorama as the foundation
for its financial risk management system. Infinity is a leading provider of
enterprise applications for financial trading, risk management and operations.
"As a market leader, Hydro Quebec is committed to best practice risk
management," said Roger Lang, chief executive officer, Infinity. "Infinity
looks forward to providing a state-of-the-art risk management infrastructure
that can grow and adapt as Hydro Quebec's business requirements expand."
"Our company is setting value-at-risk based hedging guidelines, and we
needed a system that could deliver value-at-risk as well as sensitivity
analysis, scenario analysis and mark-to-market transaction and portfolio
valuation," said Jean Precourt, assistant treasurer and controller for Hydro
Quebec. "We are very pleased with Panorama, which we believe is user-friendly
and flexible enough to support ongoing growth." Precourt added that his
organization's cooperative development partnership with Infinity will help
keep Hydro Quebec's treasury group ahead of the learning curve.
Panorama will replace Hydro Quebec's home-grown risk management system,
which became increasingly costly to maintain. Initially, Hydro Quebec's
treasury group will use Panorama to manage its portfolio of currency forwards,
interest rate swaps and other derivative instruments. These financial
instruments are used for the sole purpose of hedging Hydro Quebec's market
risk, which includes the currency risk associated with cross-border
electricity contracts and the interest rate risk associated with the company's
approximately $28 billion debt-financing portfolio. Over time, Hydro Quebec
will partner with Infinity to enhance Panorama to handle certain types of
aluminum contracts.
Background Information
Hydro Quebec's risk management data warehouse will be based on Panorama's
Data Model and will utilize the Panorama Executive, a dynamic data mapping
tool that ensures the rapid implementation and integration of risk management
databases. The database will run on Microsoft's SQL Server, version 6.5.
Through multiple system interfaces built by Infinity and Hydro Quebec's IT
group, Panorama will be integrated with the company's existing systems.
Transactions stored in these systems will be automatically delivered to the
Panorama valuation engine. Mark-to-market values based on Reuters market data
will be returned to the system every fifteen minutes.
The primary objective is to achieve advanced risk management reporting
capabilities, including Monte Carlo-based VaR (value-at-risk), scenario
simulation and sensitivity analysis. The principal users of the system will
be risk managers and financial engineers within the treasury department. The
system will run on a Windows NT hardware platform.
About Hydro Quebec
Montreal-based Hydro Quebec, the world's seventh largest electric utility
in terms of sales, with annual revenues of approximately $6 billion, serves
both Canadian and newly-deregulated U.S. markets. Maintaining the largest
system for electricity generation, transmission and retail distribution in
Canada, 95% of Hydro Quebec's electricity is generated through non-polluting,
hydroelectric methods.
About Infinity
Infinity, a SunGard company, provides enterprise applications for
financial trading, risk management and operations. Its customers are banks,
asset managers, corporates and government treasuries of every size, geographic
spread and operational complexity. Only Infinity's adaptable applications
integrate all the trading, risk management and operations activities of the
enterprise. The Infinity product family includes Panorama, Infinity 7,
Infinity Forex, The Devon System, and Opus. Infinity, a SunGard company, is a
subsidiary of SunGard Data Systems Inc. (NYSE: SDS), the largest specialized
provider of proprietary investment support systems, a pioneer and leading
provider of comprehensive computer disaster recovery services and a provider
of proprietary healthcare information systems. SunGard Data Systems can be
reached at http://www.sungard.com. Infinity can be reached at
http://www.infinity.com.
Trademark Information: SunGard, Infinity, the Infinity logo, Panorama,
Infinity 7, Infinity Forex, The Devon System and Opus are trademarks or
registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the
U.S. and foreign countries. All other trade names are trademarks or
registered trademarks of their respective holders.
SOURCE Infinity
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Related links:
http://www.infinity.com
Company News On-Call: http://www.prnewswire.com or
fax, 800-758-5804, ext. 115467
CONTACT:
in the U.S., Briana Jolicoeur, 650-940-6100,
or briana_jolicoeur@infinity.com, or in Europe, Rachel Fraser,
44-0-171-337-6000, or rachel_fraser@infinity.com, both of
Infinity
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