Panorama to Support 41 Member Savings Banks
NEW YORK, Dec. 5 /PRNewswire/ -- SunGard Trading and Risk Systems, an
operating group of SunGard (NYSE: SDS), today announced that the Confederacion
Espanola de Cajas de Ahorros (CECA), the Spanish association of savings banks,
has selected Panorama to provide market and credit risk management to its
members.
Panorama will form the cornerstone of Ceca's market and credit risk
management function for treasury and investment banking activities as part of
its Global Risk Control Sectorial Project. The project will include the full
range of risk types and business lines of the Spanish savings banks. The
collection of savings banks accounts for more than 42% of total lending by
banks in Spain, and 53% of deposits and mortgage lending.
CECA will install and maintain Panorama at its Madrid headquarters, and
36 of its member banks will access Panorama remotely. Five more will install
Panorama locally to manage the risks of their higher volume portfolios of
complex derivatives. All banks will use Panorama to support a wide range of
asset classes, including fixed income and equity derivatives. SunGard will
also work with CECA to add support for credit derivatives to Panorama.
Javier de la Cruz, sub-director for risk control and strategy at CECA,
said, "We believe that as our members continue to increase their
competitiveness and market share in Spain, risk management is a coherent and
harmonious addition to profitability management and optimised solvency
management as main concerns for sound management. We selected Panorama to
form a fundamental part of this global risk infrastructure because of its
robust analytics, proven reliability and the ability of its flexible and
extensible architecture to support our planned growth. Additionally, we know
from the experience of other Spanish Panorama clients that we can rely on
SunGard's local expertise, industry knowledge and high level of service."
Panorama's data management capability is supported by a robust
architecture that enables the distribution of risk services to 41 member
savings banks, while allowing for full separation of data between banks.
Panorama's comprehensive set of development tools will allow CECA to develop
new functionality specific to its market, such as regulatory reports and
measures for risk-adjusted returns.
Gavin Lavelle, president of SunGard's Panorama operating unit, said, "We
are delighted and committed to support the growth efforts of Spanish savings
banks, as Spain becomes an increasingly significant force in the global
financial markets, by providing our robust, integrated trading and risk
management solutions and local representation."
About CECA
In 1928, on an initiative of the Federation of Basque-Navarre Savings
Banks, the Spanish Confederation of Savings Banks (CECA) was constituted, with
the objective of uniting the forces of its associated members and acting as a
representative body in various national and international forums. At present,
CECA is made up of 46 Spanish Savings Banks and in addition to being an
association is an approved credit institution. CECA supports Savings Banks in
a dual role, on the one hand as an association and, on the other, as a
supplier of specialized services.
As an association, the CECA:
-- Represents the Savings Banks with regard to public powers and in the
international environment.
-- Acts as a common Study Centre for all matters affecting the Savings
Banks.
-- Collaborates with the financial authorities.
-- Acts as an operating Co-ordination Centre for information, advising and
communication and marketing.
-- As a service supplier, the CECA offers the Savings Banks a wide range
of associated operating, financial and technological services.
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 20,000 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 of SunGard Trading and Risk
Systems, The Americas, +1-212-317-7489, or fax, +1-212-223-0220,
or adriana.senior@risk.sungard.com
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