CECA Extends Use of SunGard's FastVal Analytics to Price and Manage Commodities and Inflation OTC Products

Madrid – 2 August 2011

Confederación Española de Cajas de Ahorros (CECA), the National Association of Spanish Savings Banks, has extended its use of SunGard’s FastVal Analytics, derivatives pricing models used by international financial institutions for derivatives pricing and structuring, risk management, model validation and benchmarking. CECA's risk department will now use FastVal Analytics to help it efficiently and accurately manage commodities and inflation over the counter (OTC) products, in addition to the existing complex derivatives it holds in portfolios.

CECA, and several associated financial institutions are long-standing customers of SunGard, using an integrated solution of FastVal Analytics and SunGard’s risk management solution, Adaptiv, to support its valuation, risk analytics and risk management requirements. CECA's use of FastVal to now support commodities and inflation OTC derivatives will help users increase their operational efficiency and accuracy when valuing these products and measuring market and counterparty risk.

Massimo Salerno, head of the Risk Services Center at CECA, said, "In keeping with our track record of fostering innovation, we selected FastVal to help the financial entities that use our enterprise-wide risk platform accurately price an additional range of products, in particular, commodities and inflation OTC derivatives. As existing customers of SunGard, we have trust in FastVal's expertise in measuring the market and credit risk of complex derivatives.”

Gavin Lee, chief operating officer of SunGard’s FastVal business unit, said, “In an increasingly complex financial environment, institutions require flexible solutions that can be easily adapted to meet new business needs. FastVal's comprehensive coverage of OTC instruments and its ease of scripting new structured products will help CECA react quickly when its product coverage broadens.”

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