NEW YORK, June 2, 2003â SunGard Trading and Risk Systems, an operating group of SunGard (NYSE: SDS), today announced that it has completed its acquisition of Reech Capital, a UK-based supplier of risk management, pricing, valuation and operational services delivered via an application service provider (ASP) framework. The acquisition is not expected to have a material impact on SunGardâs financial results.
Reechâs suite of ASP-based solutions complements SunGardâs Panorama and Monis solutions for the buy-side. Reech offers independent valuation services and risk management solutions to hedge funds looking for cost-effective analytics, combined with data and easy to understand measures.
Reech offers RiskHedge, a risk management engine for hedge funds and fund of funds, delivered via an ASP framework. It was launched in early 2002 and is in operation at Global Asset Management, Marble Bar Asset Management, Sector Asset Management and Barings Asset Management.
Reech also provides FastVal, an ASP-based valuation service that helps market participants respond to new regulations such as IAS39, FRS 17, FAS 133 and Basel II, with pre-trade advisory and independent, fair value computation of derivatives trading portfolios.
For fund administrators, Reech offers eVAR, which provides risk calculations and reports via an ASP framework. Reech solutions support all financial asset classes, including equity, fixed income, interest rates, forex and credit instruments, as well as their derivatives, and highly structured products.
Reech will be an operating unit of SunGard Trading and Risk Systems, headed by Christophe Reech as president.
Jim Ashton, group chief executive officer of SunGard Trading and Risk Systems, said, âReech is an important acquisition for the continued expansion of SunGard Trading and Risk Systems into the buy-side as its ASP-based solutions offer hedge funds a cost-effective risk management framework and value-added services such as independent portfolio valuation. With this acquisition, SunGard is able to offer risk management, pricing and valuation technology to all derivative trading participants in the buy-side (in addition to the sell-side), at all levels of the value chain and of all sizes. Reechâs management and senior developers are a significant asset of the company that will be tied to the future success of the Reech operating unit, particularly the financial engineering group that will continue to grow under the leadership of Guillaume Blacher.â