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Alliance & Leicester Group Treasury, has now gone live following the recent installation of the AFA DART++ product range.

The AFA DART++ product range provides Alliance & Leicester traders with state of the art systems providing real-time pricing and risk management information allowing them to make fast and accurate decisions when trading and hedging their books.

Mick Hughes, the Senior Trader, who led the project for Alliance & Leicester explained that they required an accurate, fast and easy to use solution for pricing and managing a range of derivative instruments from plain vanilla through to exotics. The AFA DART software suite was selected not only because it met all of the original criteria, but also because of AFA DART’s commitment to future development in exotics, its responsive technical support team and the availability of a 'quants team'.

Mick commented, "The DART++ flexibility totally satisfied our requirements to be able to respond even more quickly to requests and changes in the marketplace and to identify more trading and hedging opportunities. DART++ has been professionally implemented in a very short time scale and is now an integral part of our desk".

The DART++ systems include comprehensive pricing tools, a real-time data management system, an historic pricing database and a derivatives management system along with energy and equity calculators.

The DART+Pricing system provides an extensive range of functionality to meet the needs of all a client’s traders and in addition to a broad range of instruments covered, the system allows DDE output, multi-currency views, full graphing capabilities with curve manipulation and a comprehensive range of curve definitions.

Martin Hand, Managing Director of AFA DART, a subsidiary of AFA Systems Plc, commented "We are very pleased to have secured Alliance & Leicester as a client and look forward to working closely with them over the coming years to meet all their pricing and risk management requirements".

"For the last twelve years AFA DART have delivered solutions to the global derivatives marketplace and have developed a range of products which are market leaders in the front office. The Alliance & Leicester contract is a major endorsement for AFA DART and for our continuing commitment to developing systems across the complete derivatives spectrum. We are well positioned to continue to meet and exceed our clients expectations", he concluded.