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Nationwide Treasury Licences additional AFA DART front office systems

Nationwide Treasury, the treasury division of the world's number 1 Building Society, has just completed the live installation of the DART+Exotics Pricing software at their Northampton Head Office. Since the initial installation of AFA DART products in September 98, Nationwide has steadily increased the number of users of the AFA DART software. This latest installation of the DART+Exotics is a major endorsement for AFA DART’s continued evolution of their product range.

DART+Exotics is the third financial software package from the DART++ range, which includes DART+Pricing and DART+History. Based on a multi-tier architecture, incorporating all the popular models, the system allows sub-second pricing of the most actively traded exotics options. Calibration to 2, 3 or 4-D volatility surfaces can be effected in real-time. Together with a unique line-by-line presentation, this allows the comparison of many different option structures.

Martin Hand, Managing Director of AFA DART, a subsidiary of AFA Systems Plc stated: "The implementation by Nationwide Treasury is a significant endorsement for DART+Exotics and meets our objective to provide a high quality front-end solution for benchmark pricing of Exotic Interest Rate instruments ".

Jim Coleman of Nationwide Treasury Stated; " Nationwide have been successfully utilising the AFA DART software for over 2 years now. The licencing of DART+Exotics allows the Treasury department to price and monitor the more complex instruments available in the market place. This new functionality fits seemlessly into the current DART++ environment and we have found it extremely flexible, fast and easy to use".