Frankfurt, Germany – December 13, 2004 – SunGard Futures Systems, an operating unit of SunGard (NYSE:SDS), announced today that BHF BANK of Frankfurt, Germany has implemented SunGard’s Octagon system for futures and exchange-traded derivatives processing. As the largest clearing member of Eurex and European Energy Exchange (EEX), and actively trading on over 25 international exchanges, BHF BANK uses Octagon to perform high volume processing, serve numerous Eurex non-clearing members, and support the bank’s expansion into new markets.
Vincent van Lith, managing director at BHF BANK, said: "Our business growth over recent years has been unprecedented. We needed a solution that could effectively support our tremendous growth and expansion in spite of a complex processing environment, while also providing greater efficiencies, economies of scale and reduced operational costs. Octagon also provides us with real-time history online, a legal requirement that will be in effect in Germany in the near future."
A SunGard customer since 1989, BHF BANK converted to Octagon to improve efficiencies and support high-volume processing using Octagon’s single, global database architecture and Unix environment. BHF BANK also uses SunGard’s WorldSource for worldwide daily market and revaluation data, and Global Margin Server (GMS) for initial and variation margin calculations, which integrate with Octagon to provide an efficient, straight-through processing operating environment.
"We are pleased that a successful and continuously growing bank as BHF BANK has placed its trust and reliance on SunGard and its solutions," said Joachim Holzer, managing director of SunGard Futures Systems’ Central European operations. "Octagon’s single global architecture effectively supports BHF’s demanding processing environment, and provides the capabilities and efficiencies the bank needs to help achieve optimum business results."
Serving financial institutions in Germany and Central Europe since the early 1990s, Octagon provides high-volume processing and accounting for exchange-traded derivatives, futures and options, from order to clearing and settlement. Octagon features a Java-based user interface and includes interfaces to regulatory bodies for reporting purposes, providing institutions with an efficient, single-vendor solution.
