SunGard Trading and Risk Systems, an operating group of SunGard (NYSE: SDS), today announced the release of Panorama 2002. Panorama is a real-time, modular solution for cross-asset, straight-through trading, portfolio analysis, market and credit risk management and processing. The 2002 version of the solution further enhances Panoramaâs real-time trading and risk features, robust risk analytics and cross-asset coverage.
Gavin Lavelle, president of the Panorama operating unit, said, "Panorama 2002 builds on Panorama's strengths in real-time, straight-through trading and integrated risk management. With over 120 installations worldwide, Panorama is a proven, pragmatic trading and risk solution for real world scenarios, at the desk-level or across the enterprise. Panorama provides proven high performance, easy-to-use tools and the streamlined environment clients need to proactively and competitively run their businesses."
At the desk-level, Panorama Web Trader provides Web-based position management and high-volume profit and loss calculations to traders in real time. Already in use by a large, US-based hedge fund, Panorama Web Trader can process 70 trades per second and tens of thousands of trades per day and supports up to 100 users globally. It accepts multiple user inputs across asset classes and real-time price updates to facilitate reactive profit and loss trading, in a browser with full drill-down functionality. Panorama Web Trader also provides real-time 'greek' measures for pre-trade risk analysis.
Panorama's framework for integrated, enterprise-wide market and credit risk management has been enhanced in Panorama 2002 with a focus on optimizing efficiency and incorporating distributed processing to support clientsâ increasingly complex portfolios. Market and credit risk models use the same data, are based on the same assumptions and thus provide consistent, easily reported risk figures, helping clients increase transparency.
Panorama provides an integrated credit risk management framework to enable institutions to evaluate their credit exposures. Credit exposure calculations have been extended to incorporate risk mitigation from guarantees and credit derivatives and allow for sophisticated ageing and reinvestment logic according to specific client needs. While fully supporting market practices, Panorama improves credit risk management techniques by providing actionable credit exposure information based on Monte Carlo and Credit VaR analysis. Panoramaâs Credit VaR has been significantly enhanced to support three methodologies including an actuarial model and a micro and macroeconomic model.
Next-generation market risk tools incorporated in Panorama 2002 allow clients the flexibility to define risk factors according to user-defined granularity. Clients can now define spread factors four levels deep and choose spread categories of attributes of their interest such as industry, country, credit quality, product type, etc.
Ongoing development of Panorama continues to expand the solutionâs support for buy side trading and risk management. All market and credit risk calculations in Panorama support relative measures against user-defined and/or industry benchmarks including sensitivity measures, scenario analysis and risk. New expanded classification schemas allow clients to slice and dice the portfolio risk according to portfolio attributes of specific interest to the buy side, such as GICS 4 level classification. Portfolios that contain fund shares for either funds where asset composition is known or fund shares where only a net asset value is known are supported in Panorama 2002.
New support for credit derivatives and complex structured products extends Panoramaâs broad asset class coverage, which also includes support for equity, interest rate, forex, money market, and fixed income instruments and their derivatives, alongside mortgage and asset-backed securities. Support for complex structured products is also included in Panorama 2002 in a flexible and intuitive framework that allows traders to easily add multi-legged instruments to their positions with simple clicks of a button.